No Tail off in European Gas Demand for Next Decade: Uniper

European natural gas demand won’t tail off until at least the end of the next decade according to Uniper.

• Uniper recently signed a deal for US LNG until the “late 2030’s” according to CCO Peter Abdo.
• Beyond that timeframe, the signals are unclear. “We just haven’t seen anything come into the market that really suits us into the 2040s that gives us the flexibility that we need,” he added.
• Uniper’s recent deal for LNG supply is linked to European benchmark prices. Abdo declined to provide further details on the deal.
• Moving away from Russian gas, Abdo said “If we didn’t have that flexibility in the portfolio then Europe would have not been able to meet its storage aims. The ability for us to shift a number of our cargoes from Asia to Europe was a real advantage for us, that is why flexibility is so important for us going forward.”