A clear warning signal regarding European energy security was raised by METLEN Executive Chairman Evangelos Mytilineos during an interview on Bloomberg TV's The Pulse with journalist Francine Lacqua. Mr. Mytilineos warned that Europe could face a particularly severe winter unless de-escalation is achieved either in the Middle East or along the Ukrainian front. As he noted, conditions in the global LNG market are becoming increasingly critical, echoing the volatile environment seen in late 2022 and early 2023, while European electricity prices have already surged significantly.
Gallium and METLEN's "weapon" against China
Turning to the gallium market, Mr. Mytilineos highlighted that METLEN's principal strategic advantage lies in its highly competitive low production costs. This factor, he pointed out, allows the company to maintain a robust competitive posture against China, even should Beijing aggressively re-enter the global gallium supply chain. This represents a niche global market of roughly 1,000 metric tons annually, where China controls nearly all output; following Beijing's export curbs in 2023, substantial volumes were withdrawn from international trade, triggering sharp critical mineral price increases.
Europe lags behind the US in critical raw materials
Commenting on the broader regulatory framework supporting investment in critical raw materials, Mr. Mytilineos noted that the United States demonstrates greater readiness to fund such capital projects, whereas the European policy framework remains significantly more complex. He recalled that the European Union has designated gallium among its 34 critical raw materials, acknowledging its vital role in microchip manufacturing, defense applications, and the broader clean energy transition.
"More substantive EU initiatives are required"
In closing, METLEN's Executive Chairman stressed the urgent necessity for more concrete European Union actions aimed at bolstering the continent's industrial foundation and curtailing strategic dependence on third countries for vital supply chain inputs. The key takeaway is unambiguous: rising geopolitical tensions and potential supply disruptions are pushing European strategic autonomy back to the forefront, at a time when heavy reliance on China for key rare metals and global markets for liquefied natural gas leaves the region deeply vulnerable.
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