Gas as a source of energy remains viable over the medium term, Austrian utility Verbund AG's (VER.VI) Chief Executive Wolfgang Anzengruber said Monday.

"I believe over the medium term the position of gas power plants will return," said Mr. Anzengruber, adding that gas power plants are built for 40 to 50 years and not for 3 to 5 years.

While "everything speaks in favor of gas really being the bridge technology (away from nuclear energy) of the next 50 years," Mr. Anzengruber said, currently the most profit can be made in the technology that results in the highest carbon dioxide emissions, namely, brown coal. Mr. Anzengruber called the current gas situation on the European market "very difficult."

Mr. Anzengruber was speaking on a panel at an energy conference in Vienna .

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