Uniper warns that gas prices are unlikely to drop; if the Strait of Hormuz does not reopen, prices of 50 to 60 euros will become the norm

智通财经2026/08/11 10:46

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The CEO of German energy giant Uniper issued a warning on Tuesday that as long as the Strait of Hormuz remains closed, natural gas prices will stay in the range of 50 to 60 euros per megawatt-hour. This poses negative impacts for customers, industry, and the broader economy, making it urgent to seek political solutions to break the deadlock.
There are significant disagreements between the US and Iran over the conditions for reopening the strait. The US responded to Iran’s reconciliation proposal with demands for compensation, making the prospects for restoring the liquefied natural gas transport corridor increasingly uncertain. The expectation of persistently high energy costs is deepening anxiety within Europe’s industrial sector.
Uniper stated that it has strengthened the security levels of critical infrastructure and confirmed that there is still ample time to complete the target of gas injections into underground storage facilities in Germany. However, this is contingent upon procurement prices dropping from their current highs; otherwise, the cost of refilling storage will be unsustainable.
Management pointed out that, unlike its hydroelectric units which are affected by drought and low water levels, the company’s coal-fired plants have not yet encountered similar constraints. At the same time, railway transport provides an alternative to ensure coal supply. However, considering the volatility of water levels, Uniper is considering reducing forward electricity sales in order to capture better delivery windows during price fluctuations.
In addition, Uniper expects that the divestment process for its helium business and OPAL pipeline stake will likely see results by the end of the year. Nonetheless, the current geopolitical situation’s profound impact on the energy market remains an unavoidable variable in management’s overall strategic assessment.

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Uniper warns that gas prices are unlikely to drop; if the Strait of Hormuz does not reopen, prices of 50 to 60 euros will become the norm

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