NATURAL GAS: EU Gas Crisis Not Yet Over: EON

Europe’s energy market is still at risk of spiking prices this winter, according to EON CEO Leonhard Birnbaum.

• “The likelihood of a repetition of the crisis of last winter has gone down significantly, which can also be seen in the forward market,” Birnbaum said, “But we have to be clear that the structural change due to the Russian war in Ukraine and the drop out of Russian gas in the supply of Europe is going to stay and therefore the crisis is not over.”
• Amid the continued risk, EON urged homes and businesses to continue to conserve gas and power.
• Over time, Birnbaum expects gas prices to rise as fuel shipped on tankers is generally more expensive than gas coming via pipeline from Russia.