The CEO of the French energy company ENGIE confirmed on Friday that the energy sector in Europe is experiencing an exceptional crisis, stressing that the current circumstances—which were largely shaped by the reduction of Russian imports and the necessary shift toward green energy—represent a turning point.
According to Catherine McGregor, the energy sector will never be the same as it is today.
When asked if Engie, the primary gas supplier to French consumers, will likely experience gas shortages this winter, McGregor responded, “I am extremely certain that we will succeed, unless particularly hard weather conditions lead to an unusually high altitude.”
She continued, “This is why the message of energy moderation remains so crucial.”
This week, the dispute over gas supplies between Engie and Gazprom heated up, with the Russian giant threatening to stop all supply to the French contractor and accusing it of not making payments.
Engie reported that Russia currently provides less than 4% of its gas imports, down from 17% prior to the Ukraine conflict, with shipments having dropped to barely 1.5 TWh in recent months.
In order to prevent gas shortages, the French government has stated that the nation must reduce its energy consumption by roughly 10%.
Engie, a French energy corporation, claims that Europe’s energy industry is experiencing a “extraordinary crisis.”
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