Rising sea levels as ice melts and oceans swell as a result of global warming could “trigger an unstoppable rise of metres”, inundating major oil ports, disrupting global oil trade and inundating coastal refineries and petrochemical plants. Reuters writes about this in a new report, citing data from the China Water Risk analytics center.
Experts predict that with current trends, average sea levels could rise by more than a meter by the end of the century, and an increase of two meters cannot be ruled out. Low-lying ports, such as supply terminals, will be particularly vulnerable to rising sea levels.
12 of the 15 largest oil terminals could be affected by a one-metre rise in levels, including 5 in Asia. Up to 42% of global oil exports from Saudi Arabia, Russia, the US and the UAE are at risk, which will affect 45% of supplies to China, the US, South Korea and the Netherlands.
“Asian countries will be hit the hardest, so they need to lead not only the global transition away from oil, but also the resilience of port infrastructure,” the report states.
Experts call for taking advantage of investment opportunities amid risks. Ports, which are sensitive to a 1-meter rise in sea level, account for about 75% of oil imports to Japan and South Korea. Many of its own terminals will also be at risk. The agency writes that increased oil production “could jeopardize the energy security” of these countries.
If temperatures rise above 1.5°C, sea levels could rise by up to 3 metres, putting more of the world’s port infrastructure at risk.
India before now stopped Certification of Russian tankers under US sanctions.
Previously Russia’s oil exports augmented.
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Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.