Europe’s energy sector is facing an “exceptional crisis”, Catherine McGregor, general manager of French gas importer Engie, said on Friday, adding that current events, dominated by cuts in Russian supplies and the need to transition to green energy, are “a moment of crossroads,” reports Reuters.
“The world of energy as we know it will never be the same again,” the head of Engie said on RTL radio.
Asked whether Engie, France’s main gas supplier to households, could face gas shortages this winter, McGregor said she was “very confident there won’t be any problems” unless severe weather conditions lead to unusually high demand .
“That’s why the energy saving message remains extremely important,” added the head of Engie.
“Gazprom” informed Engie about the reduction of gas supplies, starting on Tuesday, due to disagreements between the parties regarding the application of some contracts.
Gas from Russia now accounts for less than 4% of Engie’s imports, down from 17% before the Ukraine war, and supplies have fallen to just 1.5 TWh in recent months, the French energy group said.
Engie has “sufficient gas volumes”
Engie last month signed a three-year contract with Algerian state-owned Sonatrach for the price of gas to be delivered through the 10 billion cubic meter per year Medgaz undersea pipeline. Sonatrach and Engie “have reached an agreement on a contract for the supply and sale of natural gas through Medgaz”.
The contract between the two companies, concluded in 2011, ensures the supply of natural gas to Engie by Sonatrach through the Medgaz gas pipeline.
On the occasion of the signing of the agreement, Sonatrach and Engie also confirmed “their intention to expand their partnership in the field of liquefied natural gas (LNG) and natural gas. Engie is a major economic player in Algeria, especially in the exploration and production of natural gas segment, being the main buyer of LNG in the country.
On Monday, Engie Vice President Claire Waysand announced that the French company is in talks with Sonatrach about potentially increasing gas exports to France in the medium to long term, not just this winter.
Claire Weisand also assured that Engie has “sufficient volumes of gas” for this winter. (Agerpress)
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