What if France loses Russian gas?

Maud Descomps, edited by Manon Fawcett
07:37, February 24, 2022Modified as

2022 February 24, 12:02 p.m.

Will the consequences of the Russian military operation initiated by Vladimir Putin extend to the economy and especially to gas? Although Berlin has announced that it has suspended the commissioning of the giant North Stream 2 gas pipeline connecting Russia to Germany, we should expect a new increase in prices.

Will our gas bill go up again? The question is valid Russian invasion of Ukraine led by Vladimir Putin. Most of the gas that heats Europeans comes from Russia. Berlin has announced the suspension of commissioning of the giant North Stream 2 gas pipeline connecting Russia with Germany, citing possible inflation. So can we expect a gas shortage in France?

Europe inevitably affected

In the Middle Ages, there will be no gas shortage in France, first and foremost, because we have strategic stocks, which is enough for 90 days. This was promised by Environmental Transformation Minister Barbara Pompili in the National Assembly on Wednesday. Secondly, we have three entry points on our coast to import liquefied petroleum gas from our main supplier, Norway – even from Algeria or the United States.

But at the European level we have to worry. This is because Russian gas represents only 17% of our imports from France, while in Germany it is 50% and even 60%. There are no alternatives, as energy expert Pierre Tersian explains. “The amount of gas that Russia exports to Ukraine is huge. We are talking about 150 to 160 billion cubic meters per year, so it will take years and decades for other countries to develop reserves and bring them to Europe,” he said. Said.

So expect an increase in prices. Experts are of course unanimous: it is inevitable. Prices are already starting to soar. In France, some consumers are protected by government-established pricing. But businesses can bear the full brunt of this increase. This will quickly affect their competitiveness.