Hold off investments: company postponing future planned investment/development/marketing while continuing substantive business
Stay Pausing Investments
Engie is a French multinational utility company, which operates in the fields of energy transition, electricity generation and distribution, natural gas, nuclear, renewable energy and petroleum.
Hold off investments: company postponing future planned investment/development/marketing while continuing substantive business
Stay Pausing InvestmentsGlobal 500, is an annual ranking of the top 500 corporations worldwide
Global 500European energy companies have filed lawsuits against Gazprom, demanding a total of 18 billion euros in compensation for the suspension of gas supplies. Engie (France): 305 million euros.
The Group’s long-term contracts with Gazprom in 2021 represented approximately 20% of ENGIE’s overall gas sales and consumption worldwide. Should European sanctions affect Russian supplies – ENGIE would comply with such decision at all levels. At the beginning of the fourth quarter of 2022, Engie initiated arbitration proceedings against Gazprom Export LLC, seeking, in particular: recognition of Gazprom Export LLC's failure to fulfill its gas supply obligations under long-term gas supply contracts and payment of penalties, and as well as compensation for damages caused as a result of such non-performance.