Eni CEO: Italy Can overcome Winter Without Russia Gas

Italy can overcome this winter without gas from Russia, assuming temperatures remain mild, according to Eni SpA Chief Executive Officer Claudio Descalzi on Thursday.

The CEO’s optimism is based on gas storage facilities at 90 percent capacity and the presence of new inflows, Descalzi stated at an event Wednesday. He also added that Algeria has already doubled gas supply to Italy.

Eni, State-controlled energy giant, undertook to replace about 50 percent of its gas imports from Russia between this year and 2023. It also rises to 80 percent in 2023-2024. It aims complete replacement from other sources by 2024-2025.

Italy’s government is look forward to pushing through a new energy aid package for families and businesses worth some 13.5 billion euros ($13.5 billion) before general elections on Sept. 25. Rome has already spent over 50 billion euros to protect Italy’s economy from rising costs of energy.