Eni CEO: EU should reconsider plans to ban Russian gas imports
Eni's head, an Italian energy company, says that the?European Union needs to reconsider its plans for a gradual?ban on imports of russian gas at the start of next year.
The European Union will ban the import of Russian liquefied gas under short-term contracts starting April 25, and on long-term agreements beginning January 1, 2027.
Italian news agencies quoted Eni CEO Claudio Descalzi as saying that it was "unclear" how the bloc would replace 20 billion cubic meters of Russian LNG from Russia.
He called the Iran war "the most significant event in 40 years" for energy supply. He made his comments on Sunday at an event organized by Italy's ruling League party.
The U.S. and Israeli war against Iran 'has closed the Strait of Hormuz – a waterway which normally carries about a tenth of global?LNG - to many ships. This has resulted in a 'tighter supply outlook and higher gas prices.
The European Network of Transmission System Operators (Entsog), issued a warning last week about 'gas storage levels. It said that the conflict in the Middle East was restricting Europe’s ability to replenish storages. At the start of this month, they were at their lowest since 2022. (Written by Cristina Carlevaro, Francesca Landini and edited by Alvise Armellini and Susan Fenton).
(source: Reuters)
