DUESSELDORF, March 11 (Reuters) - Uniper does not procure liquefied natural gas from the war-stricken Middle East region, where U.S.-Israeli attacks on Iran have created price spikes in oil and gas,
Uniper Resilient Amid Middle East Energy Crisis, Says CEO Michael Lewis
Uniper's Response to Middle East Energy Market Turbulence
DUESSELDORF, March 11 (Reuters) - Uniper does not procure liquefied natural gas from the war-stricken Middle East region, where U.S.-Israeli attacks on Iran have created price spikes in oil and gas, the German utility's CEO Michael Lewis told analysts on Wednesday.
Annual Results and Market Resilience
Speaking after the group published annual results, Lewis said that while higher prices may bring back memories of the 2022 energy crisis in Europe, which triggered Uniper's nationalisation, the company was today much more resilient.
Market Expectations and Price Impact
Lewis also said that forward prices for gas and power underlined market expectations for a short-term conflict in the Middle East region, adding that while 2026 prices showed a clear impact it was smaller or non existent for 2027 and 2028.
Anticipated Conflict Resolution
"And that means that the market expects a quick resolution to this conflict," Lewis said, adding the company was much more resilient compared to 2022, when former main supplier Russia suddenly stopped supplies.
Current LNG Procurement and Supply Chain Security
"Uniper is currently not subject to any direct restrictions on LNG procurement, and there are no planned LNG deliveries from the affected region that would pass through the Strait of Hormuz," Lewis said.
Diversification and Future LNG Partnerships
Lewis said the current crisis highlighted the importance of diversification, adding countries like Qatar and the United Arab Emirates remained viable future partners for liquefied natural gas going forward.
(Reporting by Christoph Steitz and Tom KaeckenhoffEditing by Ludwig Burger and Matthias Williams)
