In the context of the tension and uncertainty gripping a number of oil rich countries in the Middle East which account for a lion’s share of the global fossil fuel output, the issue of energy security has come to assume more than usual significance. In fact, the growing ascendance of Islamic State in Iraq and Syria (ISIS) in this oil rich part of the world has all the potentials to raise the spectre of global energy insecurity. And with the global energy demand rising steadily and rapidly, there is a virtual scramble across the world to stockpile energy sources as never before. Not surprisingly then pipelines meant to transport hydrocarbons cutting across the geographical boundaries of individual countries are rapidly gaining in popularity.
Pipelines transporting oil and gas from the point of production to the point of consumption have today become one of the major pillars of energy security. Though these pipelines attract a massive capital....
