We saw one of the most significant shifts in a long while for energy markets last week. With a key pipeline opening that will radically change global flows of crude oil.
The project in question is the China-Myanmar oil pipeline. Which Chinese state media said on Thursday has now opened for test runs.
The pipeline is one of the most ambitious constructions the global energy sector has seen. Running 771 kilometres from Myanmar’s western coastal port of Kyaukphyu, across the entire length of that country, and into the Chinese city of Kunming. The diagram below from Stratfor shows the route.
The size of the pipeline is notable. But its location is even more significant when it comes to the worldwide movement of oil.
The pipe provides the first overland access between China and shipments of crude sailing from the Middle East.
Full article: This New Project Changes The Global Oil Market (Oil Price)