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Other suppliers may replace Russia in gas market in 5 yrs: World Bank prez

The world has enough energy suppliers to provide an alternative to Russia in the gas market within the next five years, World Bank President David Malpass said on Sunday.

World Bank Group President David Malpass attends a news conference after a meeting at the Chancellery in Berlin. Photo: Reuters

World Bank Group President David Malpass; Photo: Reuters

ANI US
The world has enough energy suppliers to provide an alternative to Russia in the gas market within the next five years, World Bank President David Malpass said on Sunday.
"Markets look forward, so they can look at the five-year time horizon and realize that there is a lot of energy available if it's mobilized. There are alternatives to the Russian dominance of the gas market, for example," Malpass said in an interview with the CBS.
However, he noted that in the short term, global energy markets have faced upward pressure due to the situation in Ukraine.
Malpass also said that Iran has the potential to support the oil market if there is progress on the Iranian nuclear deal.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Feb 28 2022 | 8:25 AM IST

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