The gas crisis in Europe is far from over. CEO Patrick Pouyanné of the French oil and gas company TotalEnergies warns against this. According to him, the supply of natural gas is still tight.
“The idea that Europe has solved this problem is wrong,” says Pouyanné. “We have a supply shortage.”
The CEO warns, among other things, that the supply of liquefied natural gas (LNG) will not increase until 2026, because for years too little has been invested in infrastructure for the import and export of this fuel.
“Paying more is the only way for Europe to get LNG. That is the reality of supply and demand,” says Pouyanné. Moreover, European countries increasingly have to compete in a global market, in which the need for energy in China, for example, also plays a role.
That country is expected to have a greater need for gas, oil and coal again, now that the Chinese economy is recovering from the strict lockdowns.
