Why France does not refuse Russian gas

Alexey Belogoryev, Deputy Principal Director on Energy Studies of the Institute for Energy and Finance, commented to the Svobodnaya Pressa internet-portal on the reasons for the increase in Russian LNG supplies to France and the role of the country's leadership in this.

Earlier, the British tabloid Daily Express, reporting that France increased Russian gas supplies, despite an agreement between EU countries to reduce fuel imports from Russia, concluded: “Macron has betrayed Ukraine.”

Alexey Belogoryev recalls that when Emmanuel Macron made a statement in April that France did not need Russian gas, it was about pipeline supplies from Gazprom. In this case, we are talking about liquefied natural gas (LNG):

“France has not assumed any obligations either at the state or, moreover, at the corporate level. And therefore, it is pointless for the British to blame it for something”.

As the economist admits, thanks to its large LNG receiving capacity, and being a major buyer of Norwegian pipeline gas, France can indeed easily do without Russian energy carriers:

“This is one of the few countries in Western Europe that can replace Russian gas. Another thing is that it is expensive. On the other hand, traders who buy our liquefied gas from the Yamal LNG plant are forced to sell it at a discount — the same thing happens with oil and coal. As a result, Russian LNG is now more competitive than alternative supplies.”

The deputy director of the Institute for Energy and Finance is convinced that French companies will continue to try as much as possible to delay the period of complete rejection of Russian fuel.