TotalEnergies CEO Patrick Pouyanné warned that France would enter an era of energy shortage if the Strait of Ormuz blockade lasts another two or three months. He called for strengthening supply chain resilience through investments in new pipelines. He made these remarks at a conference in Chantilly.
Patrick Pouyanné, CEO of TotalEnergies, called for greater resilience in energy supply chains amid the Strait of Ormuz blockade. Speaking at the World Policy Conference organized by Ifri in Chantilly, near Paris, he stated: «If the situation lasts another two or three months, we will enter an era of energy shortage, like some Asian countries already facing».
The Strait of Ormuz, through which one-fifth of global oil and gas passes, has been nearly paralyzed since late February by Iran due to the Middle East war. US President Donald Trump has also imposed a blockade on Iranian ports. Only a few ships, mostly linked to Iran, have navigated this strategic passage.
Pouyanné noted that the Atlantic basin is not yet in shortage, but leaving 20% of world reserves inaccessible will have major consequences. TotalEnergies has lost 15% of its Middle East production. He stressed the need to invest in new pipelines to create alternatives to the strait.
«What is certain is that if we invest in the Middle East, we must invest in the system's resilience», he affirmed, lamenting the current lack of exit routes.
