12/4/2023, 6:28 AM (Source: TeleTrader)
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RWE CEO: Europe needs more gas import capacity

RWE AG CEO Markus Krebber told the Financial Times in an interview posted on Monday that Europe's gas supply is still vulnerable.

Although gas storage is at maximum capacity and more infrastructure has been built, "we are not where we need to be because we shouldn’t have an energy supply system which is without any margin or buffer," Krebber commented. He went on to say that in an event where one of the big suppliers fails, Europe should be ready to answer such challenges.

For that reason, "I think more import capacity is needed to replace the full [lost] Russian gas," he asserted. Earlier, the company said it will be investing €55 billion in energy transition between 2024 and 2030.

Baha Breaking News (BBN) / AY