Published by Global Banking & Finance Review®
Posted on January 22, 2025
1 min readLast updated: January 27, 2026
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OMV CEO Alfred Stern calls for Europe to boost its gas production and imports, stressing the need for favorable regulations after cutting ties with Russia.
FRANKFURT (Reuters) - Having severed ties with Russia as a gas supplier, Europe must step up its own production and imports, said Alfred Stern, CEO of Austrian utility OMV in a broadcast from the Davos economic forum on Wednesday.
"We have to do everything possible to work in and around Europe," said Stern, whose remarks were shown at a German industry conference in Berlin, adding favourable regulation and tax systems were needed.
(Reporting by Vera Eckert, editing by Matthias Williams)
The main topic is Europe's need to increase its gas production and imports following the severance of ties with Russia.
Europe is increasing gas production to compensate for the loss of Russian gas supplies and ensure energy security.
Alfred Stern emphasized the need for favorable regulations and tax systems to support increased gas production and imports.
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