Total CEO says company's future could be nuclear
Christophe de Margerie says French supermajor looking to diversify
By Kevin Baxter
The CEO of French supermajor Total has said that the company is looking at opportunities in renewable energy and nuclear power as it bids to reduce its reliance on hydrocarbons.
In an interview with the UK newspaper The Times, Christophe de Margerie pinpointed the Middle East’s willingness to embrace nuclear power as a way to utilise Total’s project management expertise. The company is currently bidding for a contract to build two new reactors in the UAE with Areva and GDF Suez.
“We all know there will be a shortage of energy, so, in my view, not to look at other options would be strange,” Margerie is quoted by The Times as saying.
Margerie also said that Total were still interested in working in Iraq despite its offer for West Qurna field being rejected by Baghdad during last the recent oil auctions in the country.
“It’s still not as secure as we would like and there are problems among the locals. We are ready [to work in Iraq] but not at any price,” Margerie is quoted as saying.