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France holds talks with Arab nations on diversifying EU’s energy supplies

EconomyFrance holds talks with Arab nations on diversifying EU’s energy supplies

Paris (Times Of Ocean)- The France met with Saudi Arabia and the United Arab Emirates on Sunday to discuss diversifying Europe’s energy supplies in order to reduce its dependence on Russia.

The French Foreign Minister Jean-Yves Le Drian discussed by phone with Saudi and UAE counterparts Faisal bin Farhan Al Saud and Abdullah bin Zayed al Nahyan the importance of collaboration with both Arab states in order to diversify oil and gas supplies for European countries, according to a Foreign Ministry statement.

In a statement, he emphasized the “need for strong international mobilization in all forums and in all circumstances to confront the aggression led by Russia in Ukraine, which poses a serious threat to European security.”

Le Drian will also visit Qatar next week, during which the topic of energy diversification will be discussed, according to BFMTV news. Doha is one of the world’s top three LNG exporters.

French news daily Les Echos reported Saturday that France is also in the planning stages of installing a floating LNG terminal in Le Havre to increase LNG landing capacity and reduce its dependence on Russian gas.

Russia is the leading supplier of crude oil, natural gas, and solid fossil fuels to EU member states. The sanctions imposed on Russia over its war in Ukraine threaten the stability of energy supplies.

During the French presidency of the European Council, France declared its goal of achieving energy independence for the EU in the next decade by diversifying oil and gas supplies.

Last Tuesday, French oil and gas giant TotalEnergies announced it was suspending its business with Russia and importing petroleum products from Saudi Arabia due to international pressure and sanctions.

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