The Saudi minister called the current global energy crisis the most protracted

Brief retelling from RIA II

Saudi Arabia's Energy Minister said the current energy crisis is the longest in history.

The Saudi Arabian Ministry of Energy is developing various scenarios for the development of the energy market and thinking through ways to respond to them.

From March to August, market participants experienced difficulties in mitigating the effects of the energy crisis, but Saudi Arabia coped and began exporting products.

MOSCOW, October 12 - RIA Novosti. There has never been such a protracted energy crisis in the world as the current one, said Saudi Energy Minister Prince Abdulaziz bin Salman.

“We have never had such a protracted energy crisis,” he said during a speech at the World Petroleum Congress in Riyadh, commenting on the situation in the global energy market.

The prince noted that problems with energy security will always arise, so it is necessary to prepare for them in advance. Thus, in Saudi Arabia, the Ministry of Energy creates all sorts of scenarios for the situation in the energy market, and then thinks through how to respond to them. This helps to better understand the kingdom's capabilities and what can be improved to deal with similar situations in the future, he said.

Now, when modeling the situation on the energy market, the ministry has moved to the worst scenario of all, the minister noted.

"I don't think anyone has experienced anything like this in the last eight months... Every crisis has a root cause, and the essence of how to deal with a crisis is to focus on your resilience and look for options. Don't sit idly by, but look for opportunities to maneuver as the situation evolves," he added.

From March to August, all market participants experienced difficulties in finding ways to mitigate the consequences of the current energy crisis; Saudi Arabia managed to cope with the situation and begin exporting products, the prince noted.