Wintershall and DEA merger creates German oil and gas “giant” amid warning calls for decarbonisation
The merger of German energy companies Wintershall and DEA creates Europe’s biggest private oil and gas company at a time when international climate researchers urge industrialised countries to tame their appetite for carbon-intensive energy generation, Daniel Wetzel writes in the Welt am Sonntag. However, Lord Browne of Madingley, head of DEA’s owner L1 Energy, says the new company called Wintershall DEA will “rather be a company for gas and oil than for oil and gas,” since 70 percent of its output will be natural gas, which is considered an important bridge fuel in the energy transition due to its comparatively low CO2-intensity. Natural gas might “become part of the problem in 50 years – but over the next decades, it will be part of the solution for climate protection,” Browne said.
Find the article in German here.
Find background in the CLEW dossier The role of gas in Germany’s energy transition.