Is Northern Europe in your supply chain?

by Sterling J. Scott, Marketing Communications Coordinator, MHI | @mhi_sterling

In the past two weeks, BP and GDF Suez announced the discovery of a new oil field in the North Sea that can yield over 5,300 barrels per day, Sweden has been searching for a Russian submarine rumored to be in the country’s waters in the Baltic Sea, and a Russian spy plane was intercepted by Nato jets over the Baltic. There is a global focus on the region as it is strategic economically and in regard to security. Businesses should be focused on the region as well.

The oil discovery in the North Sea may affect energy prices in the long-term and will immediately require secure and efficient storage and transportation solutions. The tensions in the Baltic have the potential to disrupt supply chains, meaning companies that would be affected should have solutions in place to monitor their supply chains for disruptions as well as a plan to adapt to them. Companies with operations or suppliers in the region should be on alert for opportunities and threats.

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