We can ensure a secure supply for Europe without the need for liquefied natural gas (LNG) from Russia by 2028, Totalenergies CEO Patrick Pouyanne said over the weekend, referring to liquefied natural gas facilities under construction in the US and Qatar.
Totalenergies's assertion that Europe can respond to the Russian gas ban comes as the EU is trying to sever energy ties with Russia following the Russia-Ukraine conflict.
Russia is no longer the largest gas supplier to the EU but still meets nearly 20% of the continent's gas needs.
Totalenergies is importing LNG, a deep-cooled fuel, from both the US and Russia to supply Europe.
CEO Pouyanne also reassured French and European consumers about gasoline prices in the immediate period. Supply is abundant, he said, noting that Saudi Arabia is actively taking action to prevent oil prices from spiking.
However, Totalenergies' leaders also expressed concern about rising geopolitical tensions, warning that trade conflicts are creating "unstable conditions that are not beneficial to growth".
