France has extended its tariff shield on natural gas prices until 31 December 2022, in order to combat rising gas prices and the EU’s dependence on Russian supplies. The tariff shield, which was implemented by the French government in October 2021 to freeze gas prices amid rising costs caused by post-pandemic recovery and pressure on gas supplies, was supposed to end in February 2022. It was then prolonged a first time, just prior to the war in Ukraine, and was set to finish on 30 June 2022.
France also plans to fill 100% of its gas reserves by the end of the summer to be able to face a tense winter, in the context of the war in Ukraine and deteriorated relations with Russia. In the longer term, France also plans to acquire a new floating LNG terminal in Le Havre in order to further reduce dependence on Russian gas.