LAST UPDATE: 12:12 p.m
French Finance Minister Bruno Le Maire said today that a cut in Russian gas shipments is currently the most likely scenario, Reuters reported.
“Let’s prepare for a Russian gas cut. Today is the most likely scenario,” he told a business and economic conference in southern France. “It would be completely irresponsible to ignore this scenario,” he said.
With about 17 percent of its supply coming from Russia, France is less dependent on Russian gas than some of its neighbors, but the government has prepared contingency plans.
An outage is particularly problematic now because France’s nuclear power generation would struggle to fill the gap, with many reactors currently out for maintenance.
Le Maire said the first line of defense is for households and businesses to reduce energy consumption, followed by the construction of new infrastructure, such as a floating plant that will be able to regasify LNG cargoes from abroad.
More drastically, the government is also looking company by company to see which ones can be forced to cut production to save energy if needed, he noted.
Source: Capital
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