Engie’s strategy is changing. The company is re-positioning itself to target cleaner fuels in anticipation of a low-carbon future. Gas into power, with its role as a transition fuel, is part of this shift. However, the extend to which LNG is core to this has been called into question by the recent discussions regarding the potential sale of part of its LNG business. The company is focusing on its integrated business model – building power assets, creating demand for gas/LNG as fuel and as back-up to intermittent renewable production. Leveraging its power experience could allow the group to strengthen its gas value chain via LNG/gas-to-power projects, gas/LNG infrastructure and retail activities. As it looks to internationalise, a key focus will be on rebuilding its offtake portfolio to replace expiring contracts from the 2020s.