Germany's Uniper expects gas prices to remain at 50-60 euros per megawatt hour

en.Wedoany.com Reported - On August 11, Michael Lewis, CEO of Uniper, Germany's largest natural gas importer, said after releasing the company's first-half 2026 results that gas prices are expected to remain at 50 to 60 euros per megawatt hour as long as the Strait of Hormuz remains closed to shipping.

Lewis said gas prices need to fall for Germany's storage facilities to reach an inventory level of around 70% by November. As of August 9, Germany's gas storage facilities stood at 48% capacity, down from 64% in the same period last year and below the EU average of 59%.

Europe typically injects gas into storage facilities during the lower-priced summer months to prepare for peak winter demand. Following the closure of the Strait of Hormuz, liquefied natural gas shipments have been restricted, gas prices have risen, and some inventory has been sold into the market, slowing Germany's summer injection progress.

Uniper supplies approximately 20% of Germany's natural gas and operates around 82 terawatt hours of underground storage capacity across Europe and the UK. The company posted adjusted earnings before interest, taxes, depreciation, and amortization of 711 million euros for the first half of 2026, with adjusted net profit of 388 million euros.