Replacing Russian gas with other sources will be next to impossible in the near term, according to Alfred Stern, CEO of Austrian oil and gas company OMV.
“On the supply of gas for Europe, I think we should be rather clear, that in the short run it will be very difficult for Europe if not impossible to substitute the Russian gas flows,” Stern said in an interview with CNBC’s “Squawk Box Europe.”
Stern’s comments come amid repeated calls from many European nations to reduce reliance on Russian energy that grew louder due to the Moscow’s military operation in the neighboring Ukraine.