Totalenergies CEO Urges Integration Of Europe's Energy Policies

(MENAFN- Trend News Agency) BAKU, Azerbaijan, January 23. Patrick Pouyanné, Chairman and CEO of TotalEnergies, underscored the importance of European integration and the development of regional champions to strengthen Europe's energy and industrial competitiveness during the World Economic Forum session themed 'How to Project Europe's Power', Trend reports.

“More capital requires European champions,” Pouyanné said, emphasizing the need for unity across sectors like energy, digital, and finance. Reflecting on his company's efforts, he stated,“After the Ukrainian war, I dedicated my year 2022 to supply gas to Europe, mobilizing all I could to bring new LNG floating units and secure supply. We need European champions to protect consumers and enhance efficiency.”

Pouyanné highlighted a key challenge in Europe's energy sector: the lack of integration in policies across member states.“We all agree on a European climate policy, but energy remains fragmented at the national level. It's impossible to pragmatically implement a unified climate agenda without integrating energy policies,” he noted.

He called for better coordination in energy investments, citing examples of renewable energy deployment.“Solar plants belong in Spain, and wind farms should be in northern Germany. Yet, today, each country has its own agenda, making it difficult to optimize capital allocation and restore competitiveness,” Pouyanné said.

Addressing Europe's green transition, Pouyanné pointed out that TotalEnergies has committed to significant transformation.“I'm spending 30% of my investments in renewables and electricity. By 2025, 10% of the energy we produce will be green electricity-something unimaginable five years ago,” he shared. However, he cautioned,“The green agenda must also protect European industry. We need to reconcile environmental objectives with industrial competitiveness.”

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