Europe will continue to need a certain level of Russian gas supplies if it wants its industry to remain competitive, the CEO of oil major TotalEnergies (TTEF.PA) said on Wednesday, pointing to the defunct and partly damaged Nord Stream pipelines.
"I would not be surprised if two out of the four (came) back to stream, not four out of the four," Patrick Pouyanne told an industry event in Berlin.
Three of the four Nord Stream gas lines were damaged in blasts that took place in 2022. One line remains intact but has never been used.
"There is no way to be competitive against Russian gas with LNG coming from wherever it is," Pouyanne added.
