Out of curiosity, I googled current HVDC lines, and was surprised at how rapidly it has started to replace HVAC for long-distance transmission. It now strikes me that getting a line from the peninsula to europe will be more of a political effort than a technical one, which is not the conclusion I was initially expecting.
HVDC has losses at about 3% per 1000km, from Saudi Arabia to the center of Europe is less than 5000 km as the crow flies. Doesn't seem too bad to me.
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