EU Faces Energy Crisis: AKTOR CEO Exarchos Warns of Eurobond Issue

Alexandros Exarchos, CEO of AKTOR Group, has warned that the European Union will be forced to take collective action to confront an impending energy crisis and deteriorating macroeconomic environment.

Speaking at the 6th Thessaloniki Metropolitan Summit, Mr. Exarchos predicted that natural gas prices in Europe could surge to €110 per megawatt hour, up from his earlier forecast of €85, due to rising interest rates and inflation.

'Europe will have to issue a eurobond or create a new common financing mechanism,' he said, calling it a 'transitional solution rather than a permanent fix.'

Aktor Group has recently raised €1 billion to fund €3 billion in new investments, targeting EBITDA of €600-€700 million by 2031 while keeping debt-to-EBITDA below 4x.