Statement on the extremity in Ukraine

Statement on the extremity in Ukraine

The ENGIE Group condemns the irruption of Ukraine and expresses its support for the affected people. ENGIE’s Board of Directors met moment and bandied the consequences of these events, which are risking Ukraine’s sovereignty. The Board expressed sincere concern in relation to this situation, which is venturing peace in Europe, as well as the lives of civilians. In light of this situation, the Board supports opinions made by the European Union.
All Board directors agree on the following points

ENGIE doesn’t engage in any artificial exertion in Russia and no investment systems are underway on Russian home.
At a time when there are adding pressures in energy requests, ENGIE will continue to prioritize the security of energy force to its guests. The Group’s long- term contracts with Gazprom in 2021 represented roughly 20 of ENGIE’s overall gas deals and consumption worldwide.
Should European warrants affect Russian inventories – which regard for 40 of all European gas requirements, across all drivers-ENGIE would misbehave with similar decision at all situations. Under these exceptional circumstances, governments and nonsupervisory authorities would have to take measures given significant force pressures that could be anticipated for2022/2023 and the Group would work hand-in- hand with authorities.
ENGIE has a portfolio of long- term contracts with Norway, the Netherlands, Russia, Algeria and theU.S., which include a share of Liquefied Natural Gas. The Group is seizing all possible openings to insure security of force.
Regarding the Nord Stream 2 design, that ENGIE helped finance since April 2017 alongside four other European investors, the Group, as a lender, is exposed to€ 987million of credit threat which could impact its accounts in the event of Nord Stream 2 form for bankruptcy.
This extremity highlights the urgency to speed-up the energy transition in Europe. Further than ever, ENGIE is mustered to precipitously support the transition towards an energy blend that’s lower dependent on natural gas, driven by the development of renewable power product and renewable feasts ( similar as green hydrogen and biomethane).