Europe Can Cope With Ban on Russian Gas, TotalEnergies CEO Says
(Bloomberg) -- Europe will be able to withstand the proposed ban on Russian gas imports by the European Commission from 2028, the head of TotalEnergies SE said, pointing to the development of new liquefied natural gas export capacities in the US and Qatar.
“We’ll be able to ensure the security of supply of Europe without Russian LNG in 2028” thanks to new capacities under construction in those two countries, Chief Executive Officer Patrick Pouyanne said during an interview with BFM Business television on Saturday.
His comments come as the European Union continues its push to cut energy ties with Moscow in response to Russia’s war in Ukraine, now in its fourth year. Although Russia is no longer the bloc’s biggest gas supplier, it still covers almost 20% of European demand.
TotalEnergies currently imports the super-chilled fuel to Europe from both the US and Russia.
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The CEO also offered a reassuring outlook for French and European consumers regarding short-term gasoline prices. “There’s good supply,” he said, noting that Saudi Arabia is actively working to prevent a price surge.
At the same time, Pouyanne expressed concern over intensifying geopolitical tensions, warning that trade conflicts — especially those initiated by US President Donald Trump — are creating “uncertainties that aren’t good for growth.”
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