"We still have problems with gas supply,'' Markus Krebber, chief executive officer of RWE AG, said at a conference on Friday. "If we really want to be independent of Russian gas we need to have more import capacity and we will probably see this again this winter because gas storage facilities are emptying quite quickly as we have a cold start to the winter."
Escalating tensions in Ukraine have contributed to about a 45% surge gas prices this year. While levels are still far below 2022 records, they are high enough to risk deepening a cost-of-living crisis for households and intensifying competitive pressure on strapped manufacturers.
The situation is about to get worse with gas deliveries that helped fill reserves in 2024 likely unavailable next year, extending the squeeze on prices.
Russia's war on Ukraine is escalating, with both sides launching missile attacks this week in an effort to gain an advantage ahead of Donald Trump's return to the White House.
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