Wintershall Dea CFO says positive on European gas prices

Positive on gas price fundamentals for the medium and long term

  

FRANKFURT- German oil and gas producer Wintershall Dea WINT.UL is positive on gas price fundamentals for the medium and long term, chief finance officer Paul Smith said on Wednesday.

European stocks levels of around 35% at the end of winter meant there would be demand in the storage injection season in the summer, Smith said during the company's virtual annual press conference, adding that a year ago, stocks were around 80% full.

For the longer term, Smith said he believed gas had a big role to play in the energy transition and in a transition towards decarbonised gas in the shape of synthetic or biogas-derived hydrogen.

(Reporting by Vera Eckert Editing by Madeline Chambers) ((vera.eckert@thomsonreuters.com; +49 30 2201 33654; @EckertVera;))

More From Commodities