Gas storage levels in Italy and Europe are good, Italian minister says
CERNOBBIO, Italy, Sept 6 (Reuters) — Gas storage levels in Europe are “good”, Italian Energy Minister Gilberto Pichetto Fratin said on Saturday, adding that his own country was close to the 90% target set by the European Union.
“We are relaxed about gas storage, certainly in Italy … the level is also good in Europe, although slightly lower,” Pichetto said on the sidelines of the TEHA Forum in Cernobbio.
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High gas storage levels function as a buffer in case of unexpected peaks in demand during winter months.
The EU set gas storage targets after Russia’s full-scale invasion of Ukraine in 2022 triggered an energy crisis. Member states are meant to hit a 90% filling target at any point between October 1 and December 1.
However, Pichetto said Italy was not ready to dismantle coal-fired plants in continental Italy by year-end, as previously planned, singling out Enel (ENEI.MI), opens new tab plants in Civitavecchia and Brindisi.
“We have a war in Europe, we have very difficult situations in the Mediterranean, which are changing by the hour … so I am not in a position to dismantle coal-fired power stations,” said Pichetto, who had previously expressed doubts about the year-end deadline.
Gas supply across the Mediterranean has been affected by a reduction of shipping through the Suez Canal due to attacks by Yemen’s Houthis, and by instability in Libya.
Asked whether Italy could increase imports of liquefied natural gas (LNG) coming from the United States,
Pichetto said imports of liquefied natural gas (LNG) from the United States were “convenient” at the moment, and any increase depended on price.
Reporting by Francesca Landini; Editing by Valentina Za, Aidan Lewis
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Francesca has covered since 2022 some of Europe’s biggest energy groups, focusing on their efforts to decarbonize their business while ensuring growth and technological progress. She also reports about European Union’s initiatives against climate change and energy regulation in Italy. She was named Reporter of the Year in 2022 by Reuters. Before energy, Francesca was part of Reuters aerospace and defense reporting team. She is graduated in Economics and loves painting in her free time.