Europe energy markets are well supplied but prices too high, SEFE CEO says

12/10/2024

European energy markets are very well supplied but market prices are significantly higher than before, leading to Europe losing a competitive edge in the global economy, the head of nationalized German energy firm SEFE said.

"While the security of supply we were able to maintain, we should not forget this has come at a price, at a price for our industry, because market prices in Europe are currently significantly higher than before," SEFE Chief Executive Egbert Laege said on the sidelines of an LNG conference in Berlin.

Laege said he expected LNG demand in Europe to grow in the next five to ten years.