TotalEnergies CEO says US LNG can't replace Qatar for Europe

Investing.com -- Higher U.S. liquefied natural gas production is helping but cannot replace Qatari supplies for Europe next winter, TotalEnergies CEO Patrick Pouyanne said on Wednesday.

Pouyanne made the comments while speaking to French lawmakers during a hearing by the economic affairs commission on the Middle East crisis.

The CEO warned that if Qatari LNG supply does not restart, the decrease in gas prices heading into winter will not be as dramatic as the fall in oil prices.

Pouyanne stressed that it is urgent to ensure Qatari LNG supply restart, otherwise gas prices will not go down as much as oil prices heading into winter.

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