Studying ways to reduce reliance on Russian gas, says Italy's PM

Italy's government is studying ways to reduce the country's reliance on gas imports from Russia, Prime Minister Mario Draghi has told Parliament.

Draghi sought to reassure Italians concerned about the rising security risks and spiraling energy prices stemming from the Russia-Ukraine military conflict that "the government is working non-stop to counter the possible repercussions."

Energy prices have been surging in Italy since before the Ukraine crisis. According to the country's National Institute of Statistics (ISTAT), energy prices surged 29.1 per cent in December 2021 and a further 38.6 per cent in January, Xinhua news agency reported.

Preliminary data show that prices will continue to increase as a result of the crisis.

Draghi noted that Italy imports 95 per cent of the natural gas it uses, and more than 40 per cent of its total imports come from Russia. He said that gas imports from Russia are not expected to be suspended, but "it is important to assess all eventualities."

With spring approaching, the rising temperatures will reduce the need for gas for heating. The country has 2.5 billion cubic metres of gas in storage, which should allow it to absorb disturbances in supply, he said.

The "situation risks being more complex for the next winter period and also for the more immediate future," he acknowledged.

--IANS

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