Italy minister warns of late winter crunch if Russia shuts off gas

Italy has enough gas supplies to avoid a supply crunch until the end of the coming winter if Russia were to turn off the taps, Ecological Transition Minister Roberto Cingolani said on Wednesday, adding he did not expect large-scale rationing. Italy has been building up storage during the summer and hopes to have facilities filled to 90% or more of capacity by the end of the year or earlier. Snam, which runs most of Italy’s gas storage capacity, said deposits were 71% full as of July 25.

Cingolani said efforts to build up reserves meant Italy would have supplies until February even if Russia turns off the taps at the start of winter. “In the event of a deterioration in other gas supplies we can make a tougher savings plan, but at the moment energy security is guaranteed,” Cingolani told a news conference.

His message was echoed by Snam CEO Stefano Venier. “I am not saying that the country will not have any problem … but I can see risks for Italy only if Russia gas supplies go to zero and January is extremely cold,” Venier said in a conference call after the company posted financial results.

Italy has been striking a series of deals to reduce its reliance on Russian gas and Algeria is now its leading source of imports. In an effort to increase gas savings, the government said it would aim to reduce heating by 1 degree Celsius in public and private residential buildings in the second half of 2022, while cutting heating duration by 1 hour a day.

The government said it plans to lower national gas consumption by 2.6 billion cubic metres in 2022, with this amount seen rising to almost 11 by 2025. Russia delivered less gas to Europe on Wednesday in a further escalation of an energy stand-off between Moscow and the European Union that will make it harder, and costlier, for the bloc to fill up storage ahead of the winter.

On Tuesday, EU countries approved a weakened emergency plan to curb gas demand. Germany, Europe’s top economy and its largest importer of Russian gas, has been particularly hit by supply cuts. Asked about possible efforts to safeguard gas for Germany, Cingolani said that would require broad cooperation from European partners.

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