Macron shoots for the moon with pitch to Europe’s struggling space sector

{"text":[[{"start":5.76,"text":"Good morning. A scoop to start: The European Commission has resumed work on options that could persuade EU governments to approve the use of Russia’s frozen assets for Ukraine."}],[{"start":15.44,"text":"Today, our Paris correspondent reports on the mismatch between Europe’s galactic ambition and the rather more terrestrial reality, and our energy correspondent reveals new data on rising Russian gas imports."}],[{"start":27.4,"text":"Have a wonderful weekend."}],[{"start":null,"text":""}],[{"start":27.9,"text":"Intergalactic integration"}],[{"start":29.24,"text":"French President Emmanuel Macron has urged Europe to bolster its “fragile” space sector with a new shared approach to financing and bold ambitions in exploration — although a grand extraterrestrial summit in Paris this week struggled to draw many of his fellow leaders, writes Sarah White."}],[{"start":47.04,"text":"Context: Europe has been outgunned in space by the US and China in recent years, leaving it dependent on other nations for critical technologies and potentially exposed in areas such as defence."}],[{"start":58.36,"text":"Both Macron and European Commission president Ursula von der Leyen called on member states to rise to the challenge yesterday including, the French leader said, by aiming to fly astronauts into orbit on a European-made rocket within a decade."}],[{"start":71.28,"text":"“European space remains fragile and we need to accelerate,” Macron said. He suggested the Commission, European Space Agency and others should book dozens of rocket launches together rather than piecemeal, mimicking the US approach, to boost rocket makers such as France’s ArianeGroup or promising German start-up Isar Aerospace."}],[{"start":90.64,"text":"Macron also called for the end of “the rigid model of geo-return”, whereby ESA attributes contracts to countries proportionally to funding, making for a less-than-nimble industrial set-up."}],[{"start":100.68,"text":"Von der Leyen, meanwhile, expressed clear support for a merger of the space units of European aerospace and defence groups Airbus, Thales and Leonardo, who are currently in discussions with the Commission ahead of filing for formal antitrust clearance."}],[{"start":114.24,"text":"“These are the types of industrial champions we need if Europe is to lead in the space economy of tomorrow,” she said."}],[{"start":120.44,"text":"But the space summit, convened by Macron with less than a year until he leaves office, fell short of some of its promise, despite deals for European companies announced under the dome of the Grand Palais, with ESA astronauts also on parade."}],[{"start":130.5,"text":"They included hefty contracts to build satellites for the upcoming €15.6bn Iris² constellation meant to rival Elon Musk’s Starlink, for Aerospacelab and a Thales and Leonardo joint venture, and an ESA space cargo agreement awarded to a European capsule for the first time, developed by The Exploration Company."}],[{"start":152.44,"text":"As well as cancellations by the likes of SpaceX and no major US presence, notable absentees included German Chancellor Friedrich Merz, Italy’s prime minister Giorgia Meloni and their Spanish counterpart Pedro Sánchez."}],[{"start":166.4,"text":"Chart du jour: Rising powers"}],[{"start":null,"text":""}],[{"start":168.88,"text":"The developing world’s answer to the G7 sees a unique moment of opportunity to remake the global order, at Europe’s expense. But divisions and existential questions remain."}],[{"start":169.38,"text":"Addicted"}],[{"start":180.04,"text":"Russian gas shipments to the EU this year are higher than in 2025, underlining the EU’s continued reliance on the fuel source despite a looming year-end ban, writes Ian Johnston."}],[{"start":192.6,"text":"Context: In response to Russia’s invasion of Ukraine, the EU has almost completely stopped pipeline gas imports from the country and will ban liquefied natural gas imports at the end of 2026."}],[{"start":205.12,"text":"Novatek’s Yamal LNG project in Siberia is the main exporter to Europe. From January to August, EU ports received 11.4mn tonnes of gas from Yamal, 10 per cent higher than during the same period last year, according to Kpler data seen by the FT."}],[{"start":222.8,"text":"Zeebrugge in Belgium and the French ports of Dunkirk and Montoir were the biggest recipients but gas is often then shipped on to other member states after delivery."}],[{"start":232.24,"text":"Estimates by NGO Urgewald put the price paid to Russia at €7.3bn in eight months, already more than the total spent on all Russian LNG in 2025."}],[{"start":243.72,"text":"The calculations are based on spot prices through the period, which have risen to their highest levels since 2022 because of the crisis in the Strait of Hormuz, and do not account for any long-term contractual discounts."}],[{"start":256.96,"text":"But the figures showed that a ban on Russian LNG traded on short-term contracts had only had a “marginal” impact, said Sebastian Rötters, a campaigner at Urgewald. Europe’s continued imports showed it was “ill-prepared” to cut out Russian energy by year end because it had not “reduced consumption” enough."}],[{"start":274.48,"text":"The high price of gas has also left gas storage levels in Europe at a record low, with Germany not expected to reach the required 70 per cent national target."}],[{"start":284.12,"text":"Meanwhile, the European Court of Auditors warned this week that the EU had failed to invest enough in renewables, interconnections and other energy upgrades to fend off future energy crises."}],[{"start":295.8,"text":"The investments mobilised were “far short” of the €300bn needed by 2030 to achieve its REPowerEU objectives of boosting energy security, the auditors found."}],[{"start":296.3,"text":"What to watch today"}],[{"start":306.48,"text":"Russian President Vladimir Putin meets Indian Prime Minister Narendra Modi in New Delhi."}],[{"start":306.98,"text":"Now read these"}],[{"start":312.96,"text":"Difficult AI choices: Data is the one area where Europe can still be sovereign and it has the greatest potential to generate growth, writes Mario Draghi."}],[{"start":322.56,"text":"‘Historical debt’: Spain’s new citizenship law is set to spark fresh tensions with Morocco."}],[{"start":328.6,"text":"Arctic holiday: Adam Weymouth goes on a family trip to Sweden camping beneath the midnight sun and swimming in glacial lakes."}],[{"start":null,"text":""}],[{"start":null,"text":""}],[{"start":340.2,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1789181780_3319.mp3"}