German energy company E.ON plans to continue its participation in the Nord Stream AG consortium, the operator of the Nord Stream gas pipeline. This was reported to the German edition Rheinische Post Mark Spieker, CFO of E.ON.
E.ON holds a 15.5% stake in Nord Stream AG. The Nord Stream pipeline connecting Russia and Germany under the Baltic Sea was damaged in an explosion in September 2022.
“Options are currently being developed for how the pipeline can be drained and protected,” Spieker said.
Spieker said the company expects energy prices to stay above pre-crisis levels for longer. He thinks it is almost impossible for them to return to pre-pandemic levels and the conflict in Ukraine in the foreseeable future.
Gas prices in Europe in 2022 jumped More than 5 times, it peaked at about $3.9 thousand per 1,000 cubic meters. At the same time Brent oil price grew up From $50 to $120 per barrel. The rise in prices was a result of the sanctions against Russia and the reduced energy supply to Europe.
Previously recognizedhow long oil will remain as the main source of world energy.
Source: Gazeta
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