E.ON chief - Europe's gas suppliers to retain position within market

Compare tariffs and switch energy supplier in minutes

Compare energy deals and switch supplier to cut your energy bills by £447* a year - start saving money in a matter of minutes!

in partnership with Banner uswitch

Looking to switch your business energy supplier? Click here

* Between 1 Jul 2018 and 31 Dec 2018, at least 10% of people who switched energy supplier for both gas & electricity with uSwitch saved £447 or more.

E.ON - one of the big six energy companies - has claimed that Europe's traditional gas suppliers won't be challenged by new sources delivering gas into the continent, according to an article published by Reuters.

Klaus Schaefer, chief of both Ruhrgas and E.ON Energy Trading, made the claim whilst speaking at the Reuters Global Energy & Environment Summit.

He said: "I do believe we will see Caspian gas in Europe. I also believe we will see more LNG (liquefied natural gas) arriving in the future.

"The traditional suppliers will mostly keep their position," he added.

There are a number of pipeline projects looking to transport gas from new Caspian sources, such as in Azerbaijan, to Europe once the reserves on the continent run out.

Recent data provided by Eurogas has displayed that Europe produces 35 per cent of gas requirements; while Russia and Norway hold the majority of the EU-27 market share - with 22 per cent and 19 per cent respectively.

Latest gas and electricity news brought to you by UK Power - the energy price comparison site.

Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.

Cookies help us deliver our services. By using our services, you agree to our use of cookies. Learn more