Siemens has seen 'even in the last quarter, good orders' for turbines coming in from Europe
Siemens sees no slackening in European gas-to-power
Gas-to-oil conversions are nonetheless presenting the turbine maker with opportunities
“If you look at our customers, we see that fleet utilisation, interestingly enough, so far remains stable in all regions. We have not yet seen any signs of change in customer behaviour when it comes to gas turbines.” So says Christian Bruch, CEO of hardware manufacturer Siemens Energy. In other words, in Siemens’ experience, Europe’s gas-fired power plants have not yet responded to record high prices by reducing output. “In light of normal fluctuations which you have between the quarters, the utilisation rate is relatively stable,” Bruch continues, even “during the time when the gas price [has been] relatively high”. “You have to keep in mind that only roughly 20pc of [Europe’s] gas consumpt
Also in this section
16 April 2025
Israel continues to strike new oil and gas concession agreements and gas exports continue to rise, but an overreliance on Egypt remains the big concern
15 April 2025
Loss of US shipments of key petrochemical feedstock could see Beijing look to Tehran with tariffs set to upend global LPG flows
15 April 2025
Australia’s East Coast Gas projections for a supply shortfall have been pushed further out, but the challenge to meet evolving gas demand and the shifting assumptions around the fundamentals remain just as stark
15 April 2025
Long-delayed prospects for onshore LNG production in Mozambique have improved thanks to US financing approval, but security challenges blight way ahead
