DÜSSELDORF (dpa-AFX) - Uniper CEO Michael Lewis believes Germany is well prepared for the winter in terms of gas supply. "Germany is better prepared than a year ago, the storage facilities are 95 percent full," the manager told the Düsseldorf-based "Rheinische Post" (Saturday). Uniper is the most important gas procurer for municipal utilities in Germany and, according to Lewis, has already secured the volume to fulfill all contracts this winter. "Our terminal for liquefied natural gas (LNG) in Wilhelmshaven is running," the Uniper CEO stressed.

He added that the liquefied gas could also come from Russia: "Russia continues to sell LNG on the world market. Russian molecules are therefore circulating globally, and in wholesale trading, the participants, including us, cannot always know the origin of the gas purchased," Lewis said.

The Uniper CEO also pointed to residual risks. "If it gets very cold and/or LNG sourcing issues come up, it could be tighter this winter as well," he said. "If China's economy is humming and China has a lot of demand for liquefied natural gas (LNG), it will be in short supply or very expensive in Europe." Lewis called for an extension of the government's price curbs until April 2024, which is also how long the reduced seven percent VAT rate on gas should remain in place. "The gas market continues to be nervous, even small disturbances can cause price spikes. But I don't expect the price to rise as much as it did in 2022/2023," the manager stressed.

Government relief expires at the end of the year. Currently, a high price of 12 cents per kilowatt hour applies to 80 percent of gas consumption. Higher costs are reimbursed./hgo/DP/zb