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France Prepared for Cut to Russian Supply

NATURAL GAS

Gazprom is using an excuse to switch off gas deliveries to its Engie according to the French energy minister on Wednesday.

  • “As we anticipated, Russia is using gas as a weapon of war and is using Engie’s way of applying the contracts as a pretext to further reduce French supplies,” the minister said.
  • Adding that “France has been preparing for this scenario since the spring” with exposure to Russian gas down to 9% from nearly double that before the Ukraine war.
  • France is currently in talks with Algeria for increased gas supplies.

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