Europe may be on the verge of blackouts, Statoil warns [Seeking Alpha]
STATOIL ASA (STO)
Last statoil asa earnings: 2/7 12:48 am
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Source: Seeking Alpha
Europe may be on the verge of blackouts, Statoil warnsEurope faces power generation capacity shortages andmay even risk blackouts without additional use of natural gas, Statoil (STO-1%) warns.“A severe shortage” in generation capacity is expected in the U.K., Germany and Belgium, says Tor Martin Anfinnsen, STO's senior VP for marketing and trading, and "it is very difficult to see that there is any other way of fixing that up to 2030 by other means than increasing gas-fired power generation. Not only through higher utilization of existing capacity but also adding new gas-based generation.”"Will we have to see blackouts before you see a change in policies? That remains to be seen but we are getting dangerously close in many markets," Anfinnsen says.Click to subscribe to real-time analytics on STONow read:When Football Players Practice Ballet: Chevron Stays On Its Toes In The Permian »
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