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Restrictions of Passage, Accidents and Oil Transportation Norms: Impact on Supply Security/ Giacomo Luciani. Bruxelles : CEPS                                         , 17 June 2011 , 24 p. (Working Document ; 354)http://www.ceps.eu/book/restrictions-passage-accidents-and-oil-transportation-norms-impact-supply-securityThis paper looks at restrictions of passage, accidents and oil  transportation norms as causes of interruption in oil supplies. The key  ‘chokepoints’ are discussed in detail: the Straits of Hormuz, Malacca,  Bab el-Mandeb, the Canals of Suez and Panama, the Turkish Straits and  the entrance to the Baltic Sea. It is concluded that in most cases the  danger of closure can only be temporary; nevertheless, investment in  bypasses and alternatives is highly desirable, and in the case of the  Turkish Straits, has not been forthcoming. The discussion then turns to  threats to navigation outside the chokepoints, such as piracy and oil  spills in enclosed seas, particularly the Mediterranean. The final  section looks at changing international norms, especially the entry into  force of the requirement of double hulls for oil tankers. The paper’s  main conclusion is that there is no scenario of interruption of maritime  oil and gas transportation that may cause a severe physical shortage of  oil, in general or specifically for Europe. In almost all cases  potential tensions could be easily allayed if responsible governments  took the necessary steps to create alternatives (notably pipeline  bypasses) or to curb illegal activities. The main factor preventing the  required investment in transportation alternatives is the lack of a  well-functioning market mechanism for burden sharing. Where passage must  be paid for, the resulting income stream supports investment to  increase capacity and accommodate growing demand.  (© CEPS)