Engie chief says energy markets have reached a turning point

PARIS, Sep 2 – PRIME. The European energy sector is facing an “exceptional crisis,” the CEO of leading French gas importer Engie said Friday. She called the current events, largely due to the reduction of Russian imports and the overdue transition to environmentally friendly energy sources, “a turning point.”

“The world of energy as we have known it until now will never be the same again,” Katherine McGregor said in an interview with RTL radio.

Asked if Engie, France’s leading supplier of gas to households, could face shortages this coming winter, McGregor said she was “absolutely confident we can handle it” as long as it doesn’t require significantly more gas in the event of a very cold weather. winters.

“That’s why the call for moderation in energy consumption is so important,” she added.

This week, the dispute between Engie and PJSC Gazprom escalated. The Russian company prepared to stop all deliveries to its French contractor, citing incomplete bill payments.

Russia now accounts for less than 4% of Engie’s gas imports, down from 17% before the outbreak of hostilities in Ukraine, with deliveries falling to just 1.5 TWh per month in recent months, the energy firm said.

French authorities have said the country needs to cut electricity consumption by around 10% to avoid gas cuts.