Mehren will participate in a session called ”Energy in Europe – a balancing act” on the opening day of ONS, Monday 29 August. He will address the advantages of gas in the European energy markets and more specifically about Wintershall’s Russian engagements.
“The European gas market is currently well supplied and may remain so for several years. However, when it comes to the global gas market, forecasts predict that demand will rise consistently. That might, in turn, influence the European gas market as well,” Mehren says and continues:
“In Europe we’ll probably see strong competition between different pipeline-based and LNG suppliers. Increasing gas use for power generation and transportation could be a smart and cost efficient way of mitigating climate change. And at the same, it would help achieve Europe’s climate goals. But under current market conditions, only cost-efficient suppliers will make profits. Russian gas is relatively inexpensive, mainly because of a quite obvious fact: A big part can be developed from onshore fields in direct pipeline distance to Europe. But Russian pipeline gas is more efficient than LNG not only from an economical perspective, but also from an ecological one, simply because you need less energy to transport it.