Italy will discuss the mechanism of energy price ceiling from Russia

Get real time updates directly on you device, subscribe now.

Italian Prime Minister Mario Draghi is scheduled to meet with European Commission President Ursula von der Leyen on Monday to discuss how to alleviate the continent’s dependence on Russian gas supplies, according to an interview by Corriere della Sera with Minister of Ecology. Tsingolani, according to Bloomberg.

“We will go to Brussels to look at a possible price mechanism for Russian energy supplies, which means a price above which European operators can not buy,” Cingolani said. The fear of disruptions in flow creates additional profits for Gazprom and this is to the detriment of all, he added.

Italy imports almost all of its natural gas, about 40% coming from Russia. With European fuel prices up 60% so far this year, the country is facing a cost-of-living crisis amid record inflation.

Italy is working on a plan that could make it independent of Russian gas supplies in two to three years, Tsingolani said in an interview.

The country wants to boost imports from countries such as Azerbaijan and Algeria, Draghi told lawmakers in Rome this month. Over time, it also wants to double the capacity of the Trans Adriatic Pipeline in the Adriatic Sea, expand its capacity to import liquefied natural gas and increase its use of renewable energy sources.

Source: Capital

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.

buy kamagra buy kamagra online $255 payday loans online same day no denial payday loans direct lenders only