The French Economy Ministry said the Russian LNG problem “concerns neither the contract nor the activities of TotalEnergies, but the opportunity and risks of imposing new sanctions on the entire European Union” .
But experts don’t believe it.
Nguyen, the analyst, presented a multi-layered argument. Firstly, alternative imports exist, secondly, French industry is now systematically using less gas since 2022 and thirdly, national storage levels are higher than last year. Overall, this reduces the risk of supply shortages.
Also at the EU level, the bloc could replace its Russian imports with deliveries from countries like the United States, said Aura Sabadus, senior gas market analyst at market information firm ICIS. even if an “immediate” ban on LNG “could drive up prices”. .”
No liquid luck
The debate comes as the European Commission, the EU’s executive arm, begins preparations for a new sanctions package against Russia, the 14th.
But LNG is unlikely to feature in this package, despite repeated requests from the Baltics and Poland. Hungary has historically opposed gas measures and all 27 EU members must approve the sanctions.
Politico
