Miller said about the time of the "bulls" in the global energy market
The events of recent days at the energy facilities of the Middle East will lead to large-scale and long-term consequences for international platforms. Alexey Miller, Chairman of the Gazprom Management Committee, announced this on March 19.
"Figuratively speaking, about the situation on the international energy markets and its further dynamics, it seems that only the bears are resting, and only the bulls are plowing hard," TASS quoted him as saying.
He noted that the current situation in the region provokes serious dynamics in the global energy markets and can lead to long-term consequences.
Bloomberg reported on the same day that the cost of liquefied natural gas (LNG) in Europe increased by 35% amid Iran's attack on the facilities of the oil and gas company in Qatar, QatarEnergy. According to the agency, the Iranian attacks may also provoke a prolonged shortage of global gas supplies.
The Wall Street Journal reported on March 15 that the heads of the largest oil and gas companies in the United States had warned the American authorities about a possible energy crisis amid escalation in the Middle East. According to the newspaper, representatives of Exxon Mobil, Chevron and ConocoPhillips expressed their concerns at a meeting at the White House.
McMaster University economics Professor Atif Kubursi, in turn, said that the war in the Middle East has become a serious blow to the global economy. The problems will affect the countries of Western Asia and the Persian Gulf, as well as European powers, the expert added. Speaking about Russia, he noted that the country as an oil exporter can even improve its position, but this is possible only if the war is short-term.
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