Europe Urged to Build National Gas Reserves
RWE's chief executive says the region lacks buffers in its energy supply system after a second major crisis in five years.
Updated on Nov. 2, 2026 in Oil and Gas
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RWE chief executive Markus Krebber called for Europe to build national gas reserves, arguing the region has no buffers in its energy supply system. The call follows what is described as the second major energy crisis the region has faced in five years.
Why it matters
Europe's dependence on imported energy has left it exposed to supply disruptions, and the latest crisis highlighted insufficient reserves. Krebber also said the region needed more LNG import infrastructure and storage capacity.
The region has faced its second major energy crisis in five years, with the earlier crisis occurring about five years before the current one. Krebber's proposals do not include a specified reserve size or cost in the available reporting.
The players
Markus Krebber
Markus Krebber is the chief executive of RWE, a major German electricity and energy company, and has been an outspoken advocate for stronger European energy security.
BP
BP is a British multinational oil and gas company with large refining and trading operations in Europe, the United States and Australia.
The details
BP redirected diesel shipments from the US and Europe to Australia during the crisis and adjusted European refinery output to produce more jet fuel as availability concerns grew. The company later changed production again as diesel prices rose. Projections cited in the reporting warn that a cold winter combined with low wind generation could leave countries struggling to meet demand, and that high prices could force industrial consumers to cut usage.
Timeline
Five years before the current crisis: Europe faced its first major energy crisis.
Ongoing: BP adjusted fuel shipments and refinery output as supply concerns and prices shifted.
Market Landscape
Europe's energy vulnerability has repeated across two major crises in five years, leaving the region with limited buffers against supply shocks. Infrastructure timelines of three to five years or longer mean that new storage and import capacity would take years to come online.
Europe's exposure to supply disruptions can translate into higher energy prices for households and businesses when shortages hit. Krebber's warning that high prices could push industrial users to cut consumption signals possible cost pressure ahead.
The takeaway
Energy security depends on storage and infrastructure built years in advance, not on reactions after a crisis hits. Readers tracking energy costs should watch whether European governments move from warnings to funded reserve and import projects.
Further reading
For more on the fuel markets behind these supply shifts, see Oil and Gas.
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