Russia cuts gas supplies to Italy

Russia cuts gas supplies to Italy

Russia has reduced gas deliveries to Italy by about a third. The Russian state-owned company Gazprom (MCX: GAZP ) announced this, wrote Italy’s state-owned energy supplier Eni (BIT: ENI ) on Monday. Instead of the usual 32 million cubic meters per day, 21 million cubic meters per day are expected to be delivered on Monday. Should there be “new and significant changes”, Eni wanted to provide more information.

Since the war of aggression broke out in Ukraine, Italy’s government under Prime Minister Mario Draghi has wanted to become independent of Russian gas supplies. The country with almost 60 million inhabitants obtains a large part of its gas imports from Russia. The Italian government therefore concluded new agreements with other gas suppliers, such as Azerbaijan, Qatar and Algeria. Italy has since also bought two terminals for the storage and regasification of liquefied natural gas (LNG) through its gas network operator Snam.

Melissa Galbraith
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