Europe still needs Russian gas, revealing the possibility of reviving Nord Stream

Recently, CEO of oil company TotalEnergies Patrick Pouyanne commented that Europe continues to need Russian gas supplies at a certain level if the continent's industries want to maintain competitiveness.

A section of the Nord Stream 1 pipeline in Lubmin, Germany. (Source: RIA Novosti)

"Liquefied natural gas (LNG) has no way to compete with Russian gas," said the CEO of oil company TotalEnergies.

He said Europe's strategy of diversifying energy sources is reasonable, but the continent should be careful not to become too dependent on any one country in the future.

“I think it will be interesting to see whether we can resist cheap Russian gas,” said CEO Patrick Pouyanne.

Regarding Nord Stream 1 and 2, Mr. Patrick Pouyanne said he would not be surprised if 2 out of 4 branches of the pipeline returned to operation.

The debate over Nord Stream has heated up in recent weeks, fueled by hopes of a peace deal between Russia and Ukraine, prompting some policymakers to reconsider whether Moscow’s gas could eventually return to Europe.

Russia supplied gas to Germany for decades before cutting and then stopping supplies via Nord Stream in 2022.

Three of the four branches of the Nord Stream 1 and 2 pipeline were damaged in an explosion in September 2022.

Source: https://baoquocte.vn/chau-au-van-can-khi-dot-nga-he-lo-kha-nang-hoi-sinh-dong-chay-phuong-bac-308998.html