Ben van Beurden, the CEO of Shell, recently warned about the low spare capacity in the oil markets and raised doubts about replacing Russian gas with LNG in Europe.
“I do believe that we’re going to be facing quite a bit of uncertainty in markets for some time to come,” van Beurden told reporters, according to Reuters. “Spare capacity is running very, very low,” he added while pointing out that the global oil and gas market is still in its recovery phase.
