Europe needs long-term energy plan, Eni CEO says

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Claudio Descalzi, CEO of Italian vitality firm Eni talks to media on the Presidential Palace in Nicosia, Cyprus April 25, 2018. REUTERS/Yiannis Kourtoglou/File Photograph

MILAN, Sept 25 (Reuters) – Hovering fuel costs as winter approaches are proof that the European Union must work out a long-term vitality safety plan, the pinnacle of Italy’s Eni has instructed La Repubblica newspaper.

Claudio Descalzi famous the EU imports nearly all of the pure fuel and many of the oil it wants, making it structurally depending on international provides.

“Europe must have what it hasn’t received right this moment, a structured and long-term vitality safety plan,” Descalzi stated in an interview printed on Saturday.

“I do not assume there might be issues with fuel procurement, however it’s going to value extra,” he stated concerning this winter.

Eni has strategic long-term fuel provide contracts with a sequence of gas-producing international locations together with Russia.

Households throughout Europe face a lot larger vitality payments because of surging wholesale energy and fuel costs, and shopper teams have warned probably the most susceptible may expertise gasoline poverty.

Spain has urged the European Fee to plan steering to assist member states react persistently to energy value spikes with out testing the principles of the bloc.

Italy’s Prime Minister Mario Draghi this week additionally stated Europe wanted to behave to diversify its vitality provides and strengthen the bargaining energy of buying international locations to assist curb energy and fuel value rises.

Reporting by Giulio Piovaccari; modifying by Jason Neely


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