Italy “can make it” through the coming winter even without gas from Russia, assuming temperatures remain mild, Eni SpA Chief Executive Officer Claudio Descalzi said.
(Bloomberg) — Italy “can make it” through the coming winter even without gas from Russia, assuming temperatures remain mild, Eni SpA Chief Executive Officer Claudio Descalzi said.
The CEO’s optimism is based on gas storage facilities at 90% capacity and the presence of new inflows, Descalzi said at an event Wednesday, adding that “Algeria has already doubled gas supply to Italy.”
State-controlled energy giant Eni has pledged to replace about 50% of its gas imports from Russia between this year and 2023, rising to 80% in 2023-2024, and it targets complete replacement from other sources by 2024-2025.
Italy’s government is expected to push through a new energy aid package for families and businesses worth some 13.5 billion euros ($13.5 billion) before general elections on Sept. 25. Rome has already spent over 50 billion euros to shield Italy’s economy from rising energy costs.
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