Gas prices will be at a high level in the next few years. Markus Krebber, CEO of the German energy company RWE, said this in an interview with the Suddeutsche Zeitung newspaper.
“Problems with Germany’s energy supply are likely to take three to five years. It takes time before new capacities will be created and other countries will be able to supply additional energy resources,” Krebber said.
According to him, RWE is already buying fuel at high prices. At the same time, the cost of energy continues to grow.
He added that fuel supplies from Russia have already begun to decline, as the company began to receive smaller volumes than it was agreed under the contract. Therefore, it is necessary to use situations where it is possible to switch to other energy sources instead of Russian supplies.
On June 17, Andrey Kochetkov, a leading analyst at the global research department of Otkritie Investments, said that the situation in the European economy continues to deteriorate, supplies of cheap pipeline gas from the Russian Federation, which are the driver of prosperity, continue to decline. According to the expert, within three to five years, the previous levels of supply of resources may remain in question.
Germany accounts for almost a third of the total volume of Russian gas supplies to the European Union — 50 billion cubic meters. m per year. According to the plan of the German authorities, by the end of this year, Germany’s dependence on Russian gas may decrease to 30%, writes Der Spiegel. Last week, the volume of deliveries of the largest amount of gas from the Russian Federation to Germany, Juniper, decreased by 25%. This was due to the restriction of supplies via the Nord Stream gas pipeline, which are associated with problems with equipment against the background of sanctions.