Italian Eni intends to replace 50% of Russian gas

Italian energy company Eni plans to replace 50% of its imported Russian gas this winter, its CEO Claudio Descalzi said. According to him, the substitution of gas from Russia will take place at the expense of alternative energy suppliers.

“We plan to replace at least 50% of Russian gas this winter using our broad and diversified reserve base, our long-standing relationship with producing countries and our growing presence in the LNG market,” said Mr. Descalzi, quoted in press release according to the results of the company’s financial statements for the third quarter of 2022.

The head of the company noted that over the nine months of this year, Eni has strengthened the reliability of gas supplies to Italy through exploration activities and the acquisition of BP assets in Algeria. In addition, Mr. Descalzi specified that within the framework of the Marine XII offshore project in the Congo, the company acquired a Tango FLNG vessel for natural gas liquefaction.

Formerly Claudio Descalzi spokethat Eni plans to completely abandon Russian gas in two to three years. Italian authorities are planning phase out Russian gas by the second half of 2024. Italy receives 25% of gas from Russia, before the start of the military operation, it received 40% of raw materials from the Russian Federation.

October 1 Gazprom notified Eni about the impossibility of gas supplies to Italy, since the transportation of the Russian energy resource through Austria is limited by local legislation. October 5 both companies reportedthat gas supplies from Russia through Austria were resumed.

Details – in the material “Kommersant” “The pipe was plugged with a deposit”.

Milena Kostereva