Oil & Gas News | Total Energy Group President: Can't live without Gazprom

For some well-known reasons, Russia's recent energy exports to Europe, including natural gas, have been greatly reduced. Affected by this, many European industries have been affected.

On March 23, local time, Boujanel, president of France's Total Energy Group, said that France cannot give up Russian natural gas. Without Russian natural gas, a considerable part of European economic activity will be stagnant.

Total Energy Group announced on Tuesday that it will phase out purchases of Russian oil and petroleum products by the end of 2022. Boujanel said on Wednesday that Russia's oil and diesel are replaceable, but natural gas is irreplaceable. If the import of natural gas from Russia is stopped, there will be no natural gas available. The natural gas purchase contract with Russia is as long as 25 years. The group will not consider withdrawing from Russia. Withdrawal is to hand over the investment of 13 billion US dollars to Russia.

Boujanel also said that without Russian gas, economic activity in parts of Europe would come to a standstill. At this stage, EU countries have not imposed sanctions on Russian natural gas. If the use of Russian natural gas is stopped, Europe will have to ration some industrial use of natural gas by January 2023.

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