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Gas: Descalzi, we will get to the point that we import 100%

Gas: Descalzi, we will get to the point that we import 100%

Rome - "In future, we will get to the point that we import 100% because our domestic production has not been developed further". This was the statement made by the CEO of Eni, Claudio Descalzi, as he spoke at Circo Massimo on Capital radio about the Italian energy dependence following the accident at the Baumgarten terminal. "15-20 years ago, we produced around 20 billion cubic meters in Italy; this figure is now below 7, and this is an intrinsic weakness. Italy has reached a point when it can change the energy mix with renewable sources. But clearly renewable sources have a weak point, because in winter they are weaker, there is not enough sun coverage and therefore gas will increasingly have to find its diversification", he observed. Speaking of the accident at the Baumgarten terminal in Austria and the temporary crisis caused, Descalzi stated that the Italian system has been bearing up "very well". "The Italian system has some strong points, despite the fact that it imports over 90% of gas, and these are its stocks, an efficient network, and we are the only country with such a large diversification, we have Algeria, Libya, LNG", he added. In terms of prices, the CEO of Eni explained that "the Italian price, the Italian hub, has a higher cost than that of the European hub and most of all prices go up because we need to import gas which is tied to other contracts". Consequently, he observed, "we need to buy it back and take it to contracts that are Italian. We have replaced 30% without however putting the price up because we paid more for it but we sold it at the original contractual price. Consequently, yesterday Eni unfortunately had to lose out and act a little like a damper" for the system. "It's clear that over a longer time frame this wouldn't have been possible", he added.