Patrick Pouyanne, CEO of the French company TotalEnergies, has warned of the threat of energy shortages in France due to the situation surrounding Iran and the blockage of the Strait of Hormuz.
“We have already exhausted all our excess reserves. If this situation continues for another two or three months, we will enter an era of energy shortages similar to the one that is already affecting some Asian countries“, Le Parisien newspaper quoted an excerpt from his speech at the IFRI International Political Conference.
According to the CEO of TotalEnergies, it is now necessary to “find workarounds“. He believes that investing in new pipelines in the Middle East is advisable.