Engie at the request of the authorities to postpone the contract for the import of LNG from the United States
Strange news came from France. According to Reuters, the country's authorities suggested Engie to postpone the signing of a contract with the American NextDecade for the import of liquefied natural gas.
“The French authorities asked Engie to postpone signing natural gas from the United States due to concerns about the environmental impact of the deal, “- noted the agency.
The corresponding request, according to sources, the company received from the French Ministry of Economy. Engie previously planned to conclude an agreement worth $ 7 billion, but now, due to a request received, “will study the project in more detail.”
Why was Engie suddenly asked not to sign the contract
The strange thing about this news is that France has no apparent reason to slow down LNG supplies from the United States. The “environmental implications” are excuses, in fact the French authorities' request is motivated by something else.
Rather, one would assume that Engie herself, who is one of the participants in the Nord Stream 2 project, could cancel the deal in retaliation for US sanctions against the pipeline. However, business is business, and a French company would hardly do that out of “revenge.”
Moreover, American LNG exporters are preparing to flood Europe with cheap liquefied gas. This is now possible thanks to a slight increase in gas prices at the largest gas hub in the European Union – TTF.
Quotes were extremely low for a long time, but the increase in demand due to the upcoming heating season began to stimulate the rise in prices. The current gas prices allow American manufacturing companies to cover the costs of both the liquefaction process and the transportation of LNG to European countries. : ///
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