PARIS — GFrench energy giant Engie
warned Tuesday that a conflict between Russia and
Ukraine would be “bad news”
for Europe’s gas supplies and defended the controversial Nord Stream 2 pipeline
as being “in all our interests”.
اضافة اعلان
Engie is one of five European partners in the
massive Russian pipeline running under the Baltic Sea from
Russia to Germany.
The pipeline, which has been completed but is still
awaiting regulatory approval in
Germany, has become a key bargaining chip in
the West’s bid to stop Russia from invading Ukraine.
US President
Joe Biden has threatened to shut it
down if Russia attacks its neighbor but Germany has maintained a more ambiguous
stance, saying only there would be “consequences” for Nord Stream 2.
At a press conference after Engie released its
annual earnings the group’s CEO Catherine MacGregor stressed the importance of
Russian gas for Europe.
“Russian gas is a major component in the
European gas mix. Therefore we view a potential conflict between Russia and Ukraine as
really bad news,” she said.
MacGregor said that France’s gas stocks meant it
could face “very short-term” shortages.
But, she said, “in the medium- or long-term we need
Russian gas” to build up gas stocks again.
She said the Nord
Stream 2 pipeline, which circumvents Ukraine and is set to double Russian gas
supplies to Germany, was “an important project for Europe’s gas supplies.
“It’s in all our interests ... that this project be
completed,” she said.
Her remarks came as Engie announced a return to
profit last year, buoyed by soaring energy prices.
The firm posted a net profit of 3.7 billion euros
after a loss of 1.5 billion euros in 2020, when the emergence of the COVID
pandemic roiled the global economy and energy prices.
The world’s biggest energy firms have posted huge
profits for 2021, when oil and gas prices surged due to geopolitical tensions
and growing demand after countries emerged from
COVID lockdowns.
Engie said its future growth would be “mainly
driven” by its investment in renewable energies as well as higher results from
its
Energy Solutions unit, which provides support to cities and industries
transitioning to carbon neutrality.
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