METLEN CEO warns of difficult European winter and energy risks

energy security gallium production LNG market critical raw materials geopolitical tension

Evangelos Mitilineos, CEO of METLEN, has warned that Europe faces a potentially difficult winter due to rising energy costs and geopolitical instability in the Middle East and Ukraine. He noted that the LNG market is becoming increasingly critical, drawing parallels to the energy crisis seen in late 2022 and early 2023. Additionally, electricity prices across Europe have already seen significant increases.

Addressing strategic resource security, Mitilineos highlighted the gallium market, which has an annual global volume of approximately 1,000 tons. He noted that China dominates this market, producing about 950 tons, and that its 2023 export restrictions caused significant price volatility and supply shortages.

To mitigate these risks, METLEN is investing in a production unit in Boeotia, Greece, aiming to establish Europe's first gallium production facility. Mitilineos emphasized that METLEN's competitive production costs will allow it to compete with Chinese supply. He also called for more substantial European Union initiatives to strengthen the continent's manufacturing base and reduce dependence on third-party countries for critical raw materials.

Entities

Boeotia · China · European Union · Evangelos Mitilineos · Evangelos Mytilineos · Metlen

Claims

What the coverage asserts, and how many sources carry each claim.

[○ 1 SOURCE] METLEN aims to develop Europe's first gallium production unit in Boeotia, Greece. www.capital.gr
[● 6 SOURCES] Europe faces a difficult winter if geopolitical tensions in the Middle East or Ukraine do not subside. www.energymag.gr · www.reporter.gr · www.lykavitos.gr · www.capital.gr · www.sbctv.gr · +1 more
[● 4 SOURCES] China produces approximately 950 tons of the 1,000-ton annual global gallium market. www.energymag.gr · www.reporter.gr · www.lykavitos.gr · www.capital.gr
[● 5 SOURCES] The European Union has included gallium in its list of critical raw materials. www.energymag.gr · www.reporter.gr · www.lykavitos.gr · www.capital.gr · www.newsbomb.gr
[● 6 SOURCES] China's 2023 export restrictions on gallium caused a significant rise in prices and reduced global supply. www.energymag.gr · www.reporter.gr · www.lykavitos.gr · www.capital.gr · www.sbctv.gr · +1 more
[● 6 SOURCES] The LNG market situation is becoming increasingly critical, reminiscent of late 2022 and early 2023. www.energymag.gr · www.reporter.gr · www.lykavitos.gr · www.capital.gr · www.sbctv.gr · +1 more
[● 6 SOURCES] Electricity prices in Europe have already surged. www.energymag.gr · www.sbctv.gr · www.reporter.gr · www.lykavitos.gr · www.capital.gr · +1 more