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Restoration of energy resources production in Middle East to take two years — IEA chief

"The situation will differ from country to country," Fatih Birol noted

GENEVA, April 17. /TASS/. Restoration of pre-war energy resources production in the Middle East may take about two years, head of the International Energy Agency (IEA) Fatih Birol said.

"Overall, it will take about two years to return to the level before war. Certainly, the situation will improve significantly on the [Hormuz] Strait opening day but time will be needed to restore the full capacity," he told Die Neue Zurcher Zeitung newspaper in an interview. "The situation will differ from country to country," Birol noted. "For example, it will take much more time in Iraq than in Saudi Arabia," he noted.

"More than eighty energy facilities were damaged" in the Middle East, with heavy or very heavy damage sustained by more than a third of them, the IEA chief said. "Time, huge efforts and significant investments will be required to return to the level existed before the crisis. We should adapt ourselves to the market volatility for some time," he added.