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10/6/2022, 11:58 AM (Source: TeleTrader)
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Italian gas reserves full, Russian supply replaced - Eni

Italian energy company Eni CEO Claudio Descalzi stated on Thursday that Italian gas reserves are fully stocked, with Russian supply being "effectively replaced" with Algeria and the North having provided substitute energy sources.

However, Descalzi assured that the Russian gas deliveries through the Tarvisio entry point "will remain constant," explaining that 10% of Russian gas makes up the country's reserves. Speaking at the MoltoEconomia: Italia Calling webinar, the energy giant's CEO explained that finding alternative sources of energy "led the country to have an offer that is substantially higher than demand," as Russian supply provided no security to the market.

Commenting on the price cap, Descalzi explained that such a move "would have saved us months of fear." He also added that Italy should have enough gas "to make it through the winter."

Baha Breaking News (BBN) / AB