WSJ: Europe Has to Rely on Russian Oil, Gas for Now, MOL Chairman-CEO Says
Europe can’t avoid imports of Russian oil and natural gas in the short term, Zsolt Hernádi, chief executive and chairman of the board of MOL Nyrt., said Thursday.
Possible gas imports from alternative sources such as Azerbaijan or liquefied natural gas from the U.S. would not be ample enough to support growth and would only make up for a shortfall in imports from North Africa.
Mr. Hernádi, speaking at a press conference after the company’s annual general meeting, added that regional transport links must be developed to ensure supply security.
“Too sad there has to be a crisis in order for such development to gain enough focus,” he said, referring to the political tensions between Russia and Ukraine.