BAKU, Azerbaijan, May 24. French Engie company has worked out a solution agreeable to Russia amid its demand to pay for gas in rubles and to comply with the sanctions, Catherine MacGregor, CEO of Engie, said at the World Economic Forum, Trend reports.
“We are working on a solution, which we hope will allow us to continue to play a role as a key energy player in Europe, which is about providing gas supplies to our customers. We worked out a solution, which seems to be agreeable to the gas supplier, but also compliant with the sanctions,” she said.
MacGregor noted that the company is working on solutions in line with diversification of supplies, leveraging the flexibility that LNG can give to Europe.
“The second aspect is making sure that we reinforce the strength of our European solidarity, but also infrastructure. It is very important that we continue to build that. There is for example, fantastic gas storage infrastructure in Europe. We need to reinforce this infrastructure, but also the market design that supports risk-sharing between countries to make that Europe remains as strong as it has to be. The third point is about accelerating the energy transition. Renewable energy will reinforce European energy independence. Because it is energy that is produced locally. At Engie we have a very ambitious target on renewable energy, both on renewable power and gas. One important issue in Western Europe is acceptability of renewable energy. Energy transition can be a solution to the energy independence challenge, keeping in mind affordability,” she explained.
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