“If I stop Russian gas, I will immediately pay Russians billions of dollars,” said TotalEnergies CEO.

Patrick Puyanne had already said this on February 24, the day of Russia’s invasion of Ukraine. The group has announced that it will stop buying Russian oil by the end of the year, but when it comes to gas, it’s a completely different commercial logic for French businessmen. “”I don’t know how to do it. “, Launched CEO of TotalEnergies on Wednesday with RTL’s microphone. Without this imported energy resource, which is based on “40%” of the European continent, the European economy “Will stop“, The CEO insisted.

This commercial dependence can be summarized in one number. Since the start of the conflict in Ukraine, Europe has ordered about 17 billion euros worth of Russian hydrocarbons, including oil, gas and coal.

“If I shut down Russia’s gas, I would immediately pay the Russians billions of dollars,” said TotalEnergies CEO.

Details: “I know how to replace this oil with this diesel” in Russian but “If you decide to stop importing Russian gas, you don’t know how to replace it. There is nothing available. You have a 25-year contract. And I don’t know how to get out of these contracts, “said Patrick Puyanne.

Regarding the announcement of the withdrawal of certain Anglo-Saxon groups from Russia “Unless we have long-term contracts and the government decides on sanctions that mean we can use unavoidable forces, no one left because we don’t know how to stop them, my competitor is Russia I will continue to take the gas ofSaid the CEO.

“Without Russian gas, we closed part of the European economy.” When, “At this stage, the European government has not decided to sanction Russia’s gas.”He remembered and added: “We know that if we stop Russia’s gas, we will have problems in the winter of 2023. In January 2023, we need to distribute the use of gas, perhaps for European industrialists, not for individuals. there is.“.

A position that is also supported by the French political world. “”I’m not ready because it’s impossible. “There were many President Richard of the Diet triggered by Wednesday Ferran, In the broadcast of France Inter, “Sanctions are used to influence Russia’s political power and not to punish French, French, or other Europeans (…) It is not a problem of sudden depletion of Europe “..

Russia’s weight on TotalEnergies

Would you like to quit Russia altogether?

“”I’m not going to do that, we invested in factories for almost $ 13 billion, it’s not a matter of money, these factories will continue to operate regardless of whether I leave. Withdrawal is to give these 13 billion to the Russians for zero, as no one can buy them. Do you want me to abandon Russian assets to enrich the sanctioned Russians? He launched.

In the cavity, it’s about group participation. In fact, TotalEnergies does not intend to abandon its stake in Russian gas assets. Specifically, it owns 19.4% of the second largest gas producer in Novatek, the country of Vladimir Putin. Overall (that is, including Novatek shares), it also owns 29.7% of Yamal LNG and 21.64% of Arctic LNG 2.

“Russia is 5% of our cash flow, 10% of our results and the company is not at all at risk. Since Mr Putin decided to invade Ukraine, TotalEnergies in Russia There is no future for growth. All the future we have built in Russia. Do you think you don’t care what has passed after the war? “ Mr. Puyanne affirmed.

In fact, nevertheless, Russia remains strategic for business people. EOverall, the group has invested nearly 20 billion euros. Therefore, as of December 31, 2020, Total owns 24% of proved reserves in Russia, and 16.6% of the group’s total liquid and gas production also occurred in 2020 … It is twice as much as 2012.

Thunderbolt: TotalEnergies Stops Purchasing Russian Petroleum and Petroleum Products

EU alternatives under consideration

later NordStream2 gas pipeline outage, MePresident of the European Commission Ursula von der Reyen If Russia was warned at the end of February and Moscow decided to reduce or cancel its deliveries, the EU could do without Russian gas this winter.

Another measure envisioned in the draft final declaration of the European Council, announced on Tuesday, March 22, is that Member States and the European Commission “Cooperate for joint purchase of natural gas, LNG and hydrogen”.. General purchases can increase your bargaining power with your suppliers. “The head of the Italian government, showed Mario Draghi.

French Minister of Economy Bruno Le Maire, along with his European counterparts, also defended the idea of ​​”up to 27 gas prices.” This measure, which has not yet received unanimous positive reviews, aims to combat the significant rise in the price of this energy.

February 1, Qatar, In response to Joe Biden’s urgent request to support EuropeThe supply of tens of billions of cubic meters of gas could not be supplemented by itself. Germany, for example, relies heavily on this perspective and receives some from Gazprom. 50.2 billion cubic meters in 2021-Gazprom will also supply Italy, Turkey, Bulgaria, Serbia, Denmark, Finland and Poland …

Towards the exclusion of Russia from the G20?

Finally, new sanctions may be imminent on Thursday’s G7 Summit in Brussels and the eve of the EU Summit.

The United States and its western allies are currently assessing Russia’s Group 20 (G20) membership, sources familiar with the matter told Reuters Tuesday.

The possibility that attempts to simply eliminate Russia will be rejected by other members of the G20, especially including China, India and Saudi Arabia, raises concerns that some countries do not want to attend this year’s group conference. .. Said.

“”There was a debate about whether it was appropriate for Russia to participate in the G20. “ G7.. “If Russia continues to be a member, the organization will not be very useful.“”

(With an agency)