Total’s CEO Calls Gas Most Expensive Fossil Fuel

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Total’s CEO Patrick Puyanne called gas the most expensive fossil fuel source, while all gas companies call gas the cheapest one.
Patrick Pouyanne

“We need to reduce costs, because gas is the most expensive fossil fuel now. This is reality. Because it is difficult to transport, logistics is more expensive than for coal and oil,” said the head of Total during the gas conference Gastech 2017.

“But this is not a given, and we must work on this and develop new markets. Our strategy is to be more integrated into the downstream,” Puyanne said, adding that the company intends to develop new gas markets, in particular, its use for transportation (as motor fuel and fuel for bunkering).

He noted that renewable energy sources are now developing, but different scenarios of the “energy mix” are possible.

Commenting on the prospects for large-scale LNG production in Russia, Puyanne noted that Russia has very low gas production costs, especially for Yamal LNG. “I believe that we will make a very competitive LNG in Russia. Of course, not like in Qatar. But we need more gas in the future and we need to develop new projects. The question is where?” said the head of Total.

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