RWE CEO warns of possible gas supply disruptions in Germany
Date
10/9/2023 9:04:53 AM
(MENAFN) Markus Krebber, the CEO of RWE, Germany's largest utility company, has issued a warning about potential gas supply disruptions in the country during the upcoming winter season. This concern arises in the midst of an ongoing energy crisis and stems from the fact that the cold weather poses a significant threat to the energy security of the European Union's largest economy. It's worth noting that this challenge persists over a year after Russia, which was previously Germany's primary gas supplier, significantly curtailed its exports of Natural gas to the nation.
“If there is very cold winter or supply disruptions it can lead to very critical situations – and as a result to shortages and significantly higher prices,” the CEO of RWE made these remarks during an interview with the business magazine WirtschaftsWoche, which was published on Thursday.
“We don't have any buffer in the gas system,” Krebber cautioned that it is crucial for Germany to accelerate the development of gas import infrastructure to prevent potential shortages in the future.
Before the Ukraine conflict, Germany satisfied as much as 40 percent of its gas demand with Russian supplies. However, in the past year, Berlin has reduced its dependency on Russian energy by substituting it with imports of liquefied natural gas (LNG), with a significant portion coming from the United States. This shift has made LNG the primary source of gas for the country.
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