2023-07-08 12:39:51
Gas shortages next winter? Patrick Pouyanné, CEO of TotalEnergies, did not completely rule out this possibility on Saturday in Aix, stressing the weakness of European storage capacities and the cost of imports.
“In terms of gas, yes, the stocks will be full” in October, estimated the boss of the oil group during a round table at the Economic Meetings of Aix-en-Provence. “But if the winter is cold in Europe”, warned the CEO, the storage capacities of the Old Continent will not be enough to meet the demand for gas from European consumers throughout the season. This does not necessarily mean that Europeans will run out of gas, but the imports needed to meet demand will have a high cost, warns Patrick Pouyanné.
“Friend prices don’t work in a supply market”
Europeans, who have become very fond of American liquefied natural gas (LNG) since the cut in Russian supplies, are also dependent on the political context in the United States – the next presidential election is scheduled for the end of 2024. “If the Republicans”, currently in the opposition to Democratic President Joe Biden, “decide to stop exports (of LNG), there is a systemic risk”, worried Patrick Pouyanné.
And, “buddy prices don’t work in a supply and demand market,” he argued.
Engie rather serene
On the side of Engie, the main supplier of natural gas in France, the general manager Catherine MacGregor said she was “rather serene” on the security of supply next winter due to the sobriety efforts made and new sources of energy. ‘import. “But we will still remain on a very volatile system in the years to come,” she added.
With regard to electricity – for which France is less dependent on foreign countries thanks to its 56 nuclear reactors – the CEO of EDF Luc Rémont also displayed his optimism in Aix, after a winter 2022/23 during which authorities were preparing for possible cuts due to the record number of reactors stopped for repairs.
“Production is going up. At this stage, we are able to say that we will approach next winter with serenity,” he said. Another reason for satisfaction, “we are starting the summer with full dams”, which should make it possible to produce more hydroelectricity than last year, when the drought had constrained hydroelectric production.
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