BP’s new Azeri gas flow will add to Europe’s already glutted supply

Pipelines have economic lives of many decades. A lifespan of 50 years is not unreasonable assuming proper maintenance and operation. Thats half a century and over this timespan the pipeline operator will be faced with all kinds of market scenarios. Some very rosy for him, some disastrous on the outside. But the good operator remains calm as he knows that every DOWN has an UP following in its path and every UP has a DOWN on the heels. When others tremble, his hand is steady.

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