EU has no alternative to Russian energy – ex Saudi Aramco VP ...News

Unlike Europe, Moscow has other markets to turn to There’s not enough capacity in the world to replace Russia’s gas supply to the European Union, while Moscow has plenty of markets to sell its energy to, the former executive vice president at Saudi Aramco, Sadad Al-Husseini, told CNBC on Monday. “The US doesn’t have the LNG capacity to replace Russia’s exports to Europe,” he said, noting that power bills across the EU are set to soar this winter. According to Al-Husseini, that could lead to serious problems on the global energy market. “This situation is a new world, and it’s not a very good one for energy,” he w

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