The defender impressed in the win over Dynamo Kiev in the Champions League.
The defender has once again had an injury hit campaign, with a series of niggling injuries limiting him to just 10 appearances in the Premier League this season.
City have sorely missed him as well, with Nicholas Otamendi, Eliaquim Mangala and Martin Demichelis failing to form a solid defence in his absence.
When he has managed to play, they have looked a much better outfit with him, as evidenced by their 3-1 win over Dynamo Kiev in the Champions League.
And Owen says that the Belgian star is key to their hopes of winning silverware.
“They’ve always had a real strong spine Manchester City,” he told BT Sport.
“They’ve just been missing that far too often, they’ve swapped and changed and tried to find a combination between the others but it’s never worked. It’s always going to be Kompany and another.”
“If he stays fit now until the end of the season Manchester City have got a great chance on winning silverware.”
It will now be interesting to see who Manchester City partner Kompany with at the heart of their defence.
They paid big money to sign Otamendi in the summer, similar to how they paid big money for Mangala last season, but neither has particularly impressed.
With Guardiola arriving in the summer, who his central defensive partnership wlll be is likely to be one of the key early questions of his rei