Secure Gas Supply for Europe Assured by Total Energy Executive, Prediction Stating No Shortages After 2028
In a significant shift in stance, the CEO of French energy giant TotalEnergies, Patrick Pouyanne, has declared that Europe can ensure its gas supply without Russian LNG by 2028. Pouyanne made these remarks in an interview with French business news channel BFM Business on Saturday, July 5.
Pouyanne's statement supports the EU Commission's plan, proposed in June, to stop all Russian gas imports by 2028. This plan aims to guarantee Europe's gas supply security without relying on Russian LNG.
TotalEnergies, one of Europe's largest LNG importers, currently imports LNG from Russia, which covers nearly 20% of Europe's gas demand. However, the company is contributing to the EU's plan to phase out Russian gas by 2028 through a strategic combination of compliance, diversification, and infrastructure investment.
Despite currently importing LNG from Russia, particularly via its 20% stake in the Yamal LNG project, TotalEnergies is adhering to the EU's phased ban on Russian gas. The company is complying with the legal exemptions that allow existing contracts, such as those with Gazprom, to remain valid until January 2028.
Crucially, TotalEnergies is actively diversifying its LNG supply sources away from Russia. The company is expanding its LNG imports from alternative suppliers including the United States, Qatar, and Azerbaijan. This diversification aligns with the EU’s broader strategy to reduce dependency on Russian gas and transition toward more reliable and politically stable sources.
TotalEnergies is also positioning itself as a neutral actor in the energy market, complying with sanctions and the EU regulatory framework, while managing the risks inherent in supply chain bottlenecks and geopolitical tensions that accompany the energy transition.
The EU is investing heavily (up to €811 billion) in renewable energy technologies and infrastructure to fully replace Russian gas by 2028. Companies like TotalEnergies also contribute by supporting LNG infrastructure and facilitating a gradual shift to non-Russian energy imports and cleaner energy solutions.
TotalEnergies has already demonstrated its commitment to this transition. In December 2022, the company provided the specialized ship "Neptune" - a floating regasification unit (FRSU) - at the Mecklenburg-Vorpommern port of Lubmin amidst the gas crisis.
As the world's third-largest LNG provider, TotalEnergies' recent remarks represent a significant shift from Pouyanne's earlier stance that Europe couldn't fully break away from Russian gas without losing more competitiveness. Pouyanne's newfound optimism about the EU's plan to phase out Russian gas by 2028 underscores the company's commitment to supporting the EU's energy transition goals.
What about the financing for this shift away from Russian LNG in the industry and the move towards renewable energy? TotalEnergies, with its strategic investments in LNG infrastructure, is contributing to the EU's efforts to invest up to €811 billion in renewable energy technologies and infrastructure.
