Deutsche Bank AG CEO Christian Sewing (pictured) said on Wednesday in his keynote speech at the bank's New Year Reception that he expects gas prices to remain "more expensive than before for years to come" and that the world shouldn't be deceived "by the recent easing."
"The past year has ruthlessly exposed the lack of diversification in our energy imports, especially our dependence on cheap Russian gas," Sewing stated, stressing that Germany still has a long way to go when it comes to making its energy supply "secure and affordable in the long run."
In order for such a goal to be achieved, the Deutsche Bank chief noted that Berlin should be signing "long-term contracts with a variety of suppliers" before finally switching to renewable energies.
