Europe's frantic search for gas supplies in the wake of Russia's invasion of Ukraine is being stymied by unrealistic demands.
"If Europe wants some security of supply, it has a cost," Patrick Pouyanne said in the Qatari capital, where the French energy company signed a deal to invest about 1.5 billion dollars in a massive natural gas project. The answer is "no" if you want a cheap price for a short time.
Nations are trying to replace the Russian gas flows that they normally use during the winter. There is no indication of when the gas will be flowing again.
The European economy is on the verge of a recession due to the surge in gas prices. Buyers want short-term contracts to buy natural gas but aren't willing to pay higher prices
European leaders are trying to get more gas in the Middle East. The Chancellor of Germany is going to visit on Sunday. Germany used a lot of Russian gas.
It isn't a matter of politics according to Pouyanne. It is a matter of price and volume.
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