Finance
OMV CEO: Europe must step up own gas production and imports
Published by Global Banking & Finance Review®
Posted on January 22, 2025
1 min readLast updated: January 27, 2026
Quick Summary
OMV CEO Alfred Stern calls for Europe to boost its gas production and imports, stressing the need for favorable regulations after cutting ties with Russia.
OMV CEO Urges Europe to Enhance Gas Production and Imports
FRANKFURT (Reuters) - Having severed ties with Russia as a gas supplier, Europe must step up its own production and imports, said Alfred Stern, CEO of Austrian utility OMV in a broadcast from the Davos economic forum on Wednesday.
"We have to do everything possible to work in and around Europe," said Stern, whose remarks were shown at a German industry conference in Berlin, adding favourable regulation and tax systems were needed.
(Reporting by Vera Eckert, editing by Matthias Williams)
Key Takeaways
- •Europe needs to increase its own gas production.
- •OMV CEO emphasizes the importance of gas imports.
- •Favorable regulations are necessary for energy growth.
- •Alfred Stern spoke at the Davos economic forum.
- •Europe has severed gas ties with Russia.
Frequently Asked Questions about OMV CEO: Europe must step up own gas production and imports
1What is the main topic?
The main topic is Europe's need to increase its gas production and imports following the severance of ties with Russia.
2Why is Europe increasing gas production?
Europe is increasing gas production to compensate for the loss of Russian gas supplies and ensure energy security.
3What did Alfred Stern emphasize?
Alfred Stern emphasized the need for favorable regulations and tax systems to support increased gas production and imports.
