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    RWE   DE0007037129

RWE AG

(RWE)
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Real-time Estimate Tradegate  -  05:55 2022-07-06 am EDT
35.47 EUR   -0.07%
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Germany can be independent from Russian gas by spring 2025 - RWE

05/20/2022 | 11:26am EDT
FILE PHOTO: The logo of RWE is pictured at its headquarters

FRANKFURT (Reuters) - Germany can wean itself off Russian gas within the next three years, the CEO of the country's largest power producer, RWE, told a weekly paper.

"If we expand quickly, we can make it by spring 2025. The supply problems might be somewhat manageable a year earlier," Markus Krebber told Frankfurter Allgemeine Sonntagszeitung.

He said apart from building infrastructure to import liquefied natural gas, this also required building new transport pipelines across European countries.

German Economy Minister Robert Habeck has previously said the country could manage without Russian gas supplies by as soon as mid-2024.

RWE's commodity exposure to Russia includes 15 terawatt hours (TWh) of gas deliveries by 2023, which it has reduced to 4 TWh since Russia began its invasion of Ukraine - action Moscow calls a "special military operation".

Asked about future Russian gas supplies, which are subject to a new payment mechanism that has led to concerns about disruptions, Krebber said: "I expect a further shortage of gas supplies and not that someone will turn off the gas tap completely."

(Reporting by Christoph Steitz; Editing by Mark Potter)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
RWE AG -0.48% 35.33 Delayed Quote.-0.64%
S&P GSCI NATURAL GAS INDEX 2.14% 264.1165 Real-time Quote.53.62%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 3.24% 63.75 Delayed Quote.-24.94%
All news about RWE AG
07/05Germany's RWE, India's Tata Steel Team Up On Offshore Wind Generation in Wales, UK
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07/05RWE AG(NEU) : JP Morgan reaffirms its Buy rating
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07/01RWE AKTIENGESELLSCHAFT : Notification and public disclosure of transactions by persons
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07/01RWE : Dr. Michael Müller
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Financials
Sales 2022 22 282 M 22 828 M 22 828 M
Net income 2022 1 680 M 1 721 M 1 721 M
Net Debt 2022 6 816 M 6 983 M 6 983 M
P/E ratio 2022 14,6x
Yield 2022 2,56%
Capitalization 23 999 M 24 587 M 24 587 M
EV / Sales 2022 1,38x
EV / Sales 2023 1,39x
Nbr of Employees 18 218
Free-Float 92,9%
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Mean consensus BUY
Number of Analysts 21
Last Close Price 35,49 €
Average target price 49,39 €
Spread / Average Target 39,2%
EPS Revisions
Managers and Directors
Markus Krebber Chief Executive Officer
Michael Müller Chief Financial Officer
Werner Brandt Chairman-Supervisory Board
Dagmar Mühlenfeld Member-Supervisory Board
Wolfgang Schüssel Member-Supervisory Board
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