Energy Giant warns Consumers to turn Down Heating

TotalEnergies CEO Patrick Pouyanne praised a contract to boost output in Qatar’s world-largest natural gas field, but told AFP that further projects are required and that customers will still have to “turn down the heat” to alleviate the pricing problem.

The chairman and chief executive of the French multinational, which is one of the world’s most powerful Energy corporations, said the company’s answer to reservations raised after it stopped its investment in Russia was to spend two billion dollars in a joint venture with Qatar Energy. The transaction for a 6.25 percent share in the North Field East project was revealed on Sunday, just two months after TotalEnergies stated it would stop investing in Russia, where it has significant natural gas holdings.

Pouyanne, who has been the CEO of TotalEnergie since 2018, told AFP that the contract was part of a “success story” with Qatar, where the company initially signed an agreement in 1986. “It arrives at precisely the perfect moment. Some speculated on what TotalEnergies would do in the absence of Russia. This is the solution, “In an interview, he stated.

Projects in the United States have been announced. We wished for another. Qatar has been added to our portfolio.” He emphasised that the corporation is committed to remaining a leader in liquefied natural gas (LNG). Pouyanne stated that his business would assist in the construction of a new LNG train, or production facility, for North Field East, but that the speed with which the $2 billion investment would be recouped would be determined by market pricing.