Wednesday, March 2, 2022

Italy studying ways to reduce reliance on Russian gas: PM Draghi - China.org.cn

Italy's government is studying ways to reduce the country's reliance on gas imports from Russia, Prime Minister Mario Draghi told Parliament on Tuesday.


Draghi sought to reassure Italians concerned about the rising security risks and spiraling energy prices stemming from the Russia-Ukraine military conflict that "the government is working non-stop to counter the possible repercussions."

Energy prices have been surging in Italy since before the Ukraine crisis. According to the country's National Institute of Statistics (ISTAT), energy prices surged 29.1 percent in December 2021 and a further 38.6 percent in January. Preliminary data show that prices will continue to increase as a result of the crisis.

Draghi noted that Italy imports 95 percent of the natural gas it uses, and more than 40 percent of its total imports come from Russia. He said that gas imports from Russia are not expected to be suspended, but "it is important to assess all eventualities."

With spring approaching, that the rising temperatures will reduce the need for gas for heating. The country has 2.5 billion cubic meters of gas in storage, which should allow it to absorb disturbances in supply, he said.

The "situation risks being more complex for the next winter period and also for the more immediate future," he acknowledged.

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