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Italy’s gas reserves to suffice for three months should Russia suspend supplies

September 30, 2014, 22:03 UTC+3 ROME
Italian Economic Development Minister Federica Guidi said Tuesday while speaking in the upper house of the country’s parliament
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©  AP Photo/Joerg Sarbach

ROME, September 30. /ITAR-TASS/. In case Russia suspends its gas supplies, Italy’s reserves will suffice for three months, Italian Economic Development Minister Federica Guidi said Tuesday while speaking in the upper house of the country’s parliament.

“If Russian gas supplies are halted, Italy will be on self-sustainment for three months,” Guidi said, explaining that the country has 11.4 billion cubic meters in its storage facilities and has some 4.6 billion cu m additionally in its strategic reserve.

In case of such “an extremely undesirable scenario,” Guidi said, prices for energy carriers will grow. She confirmed official data that gas will become more expensive for consumers.

The minister said her department is attentively watching the situation and assessing possible actions, including as part of emergency programs.

Ukraine, which transits Russian gas on to European consumers, currently does not receive Russian gas for its own needs due to an unsettled dispute with Moscow over prices.

Russian state-controlled energy giant Gazprom on June 16 switched Ukraine’s national oil and gas company Naftogaz to prepayment for gas supplies because Kiev failed to pay part of its gas debt by the deadline of 10:00 Moscow Time on June 16.

Gas supplies to Ukraine for its own needs were halted, but transit volumes were reportedly passing via Ukraine to Europe in line with the schedule.

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