INTERVIEW: Uniper exec sees Europe winter gas supply secure, price risks remain

Europe is not expected to face natural gas or LNG shortages this winter, even as the continent contends with high prices amid the sustained disruptions linked to the ongoing war in the Middle East, the chief commercial officer for gas and LNG at German energy company Uniper told Platts, part of S&P Global Energy, in an interview on Oct. 22.

"We will not have a physical shortage of LNG or gas," Charbel Abi Daher said. "The situation is tight, but there is enough gas and LNG out there. The risk is on the price one needs to pay for it."

EU experts have made similar assessments recently, even as Europe approaches winter with its lowest gas storage fill level on record, according to data from Gas Infrastructure Europe going back to 2011.

The war in the Middle East has kept spot LNG prices elevated for much of 2026. Platts assessed the DES Northwest Europe marker at $28.975/million British thermal units on Oct. 22. The benchmark is at its highest point since December 2022.

European buyers tend to rely more on short-term deals than those in Asia, Abi Daher explained. Usually, they focus at most three years out, he said. Moreover, despite this year's significant volatility, he said he does not see buyers on the continent shifting toward longer-term deals.

He attributed the aversion in part to the wider legal environment.

"Committing long-term in Europe is still very difficult because there is still uncertainty about the long-term regulatory framework in the whole energy space in Europe," Abi Daher said.

Methane regulation challenges

One law that has become a key focus among EU energy players is the bloc's landmark methane emissions regulation.

Ahead of this winter, the European Commission has proposed that the EU delay importer requirements under the law for one year, saying the move will "help save costs." The EU Parliament has pushed for even more. It voted Oct. 22 to back a three-year delay and will enter negotiations with the European Council once the latter adopts its position.

The requirements cover gas, oil and coal importers. Starting in 2027, they have to show cargoes brought into the bloc under newer contracts face the same level of methane monitoring, reporting and verification as EU producers.

The proposed changes would push back these obligations.

Abi Daher agreed that a delay would ease strains this winter.

"This will help us reduce the pressure on compliance risk and the LNG import risk a little bit," he said.

However, he also urged officials to use any extra time to roll out procedures to ensure smooth compliance when the requirements kick in. Industry groups have argued that existing uncertainty around how to comply with the law risks stymying energy flows to the continent.

Negotiating wording over liability under the regulation, Abi Daher said, is "one of the main challenges" Uniper faces in contracting LNG in the long term. He pointed in particular to the legal requirement to comply with methane intensity limits that have yet to be set.

"It's very difficult to agree on terms regarding this requirement," he said.

While Uniper has signed LNG deals since the EU adopted the methane regulation in 2024, Abi Daher said that uncertainty around the law nevertheless poses challenges to contracting cargoes for the continent.

"If we do not agree on the methane regulation terms, these volumes might not necessarily be available for Europe. It reduces our ability to sign more contracts for Europe," he said. "The regulation just needs to be clearer about what the targets are so we can reflect that in our contracting."

Open to added US, Middle East supplies

More broadly, as Uniper develops its LNG portfolio, Abi Daher refused to rule out contracting added volumes from the Middle East or the US down the line.

Both face risks.

The Iran war has curtailed Persian Gulf LNG exports for much of this year. Abi Daher nevertheless stressed the region remains an important supplier.

"It's one of the main producing areas of the world of gas and LNG, and if you really want to diversify, you need to look at that market as well," he said. "I do not exclude it."

When it comes to the US, some European market players have grown wary of the continent's heavy reliance on LNG from its transatlantic partner. The US supplied about 60.7% of the EU's LNG imports across the first nine months of 2026, according to data from S&P Global Energy CERA.

President Donald Trump's recent (albeit unfulfilled) threats to ban diesel exports amid surging prices have further underscored possible regulatory risks facing cargoes from the world's top LNG supplier.

Abi Daher, however, downplayed the possibility that a ban could hamper US LNG shipments.

"It is a risk, but we see low likelihood for it to materialize," he said. "We are definitely still looking at the US for more supply, and we are talking to different counterparts."

While risks persist, Abi Daher stressed that the focus is on building a "diversified" and "resilient" portfolio.