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
29 April 2026
The UAE’s exit from the alliance marks a decisive step towards a world in which oil markets are shaped less by collective management and more by national strategy
29 April 2026
Trafigura’s $1b prepayment agreement confirms African resource holders’ renewed interest in oil-backed financing deals as they look to capitalise on high oil prices
29 April 2026
The UAE’s departure from the oil producers’ group was a surprise to many, but the move can be traced back to a single point five years ago
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
