Discover Yahoo! With Your Friends

Explore news, videos, and much more based on what your friends are reading and watching. Publish your own activity and retain full control.

To get started, first

YOUR FRIENDS' ACTIVITY

    Eni ups Algeria gas imports on Russian shortfall

    MILAN, Feb 5 (Reuters) - Italy is importing more gas

    from Algeria to offset lower Russian supplies, the CEO of energy

    giant Eni said on Sunday, adding he saw no shortage

    problems in the country for the next few days.

    Italy depends on imports for 90 percent of its gas needs and

    gets around 30 percent of its imports from Russia, where

    exporter Gazprom cut supplies to Europe because of a

    cold snap at home.

    "We reacted with more gas from Algeria, and this allows us

    to say that there won't be problems for the next few days. We'll

    make another assessment Thursday or Friday," Eni chief executive

    officer Paolo Scaroni told state radio GR1.

    "We will be able to handle shortages of Russian gas even in

    the future," he said.

    Gazprom said on Saturday it had brought supplies to European

    countries back to normal after lowering them "for a few days",

    but was unable to meet increased demand.

    Gas flows from Russia to Italy, which is also facing

    freezing temperatures, have been below requested volumes since

    last Tuesday. The shortfall reached nearly 30 percent both on

    Friday and Saturday, according to gas transmission operator Snam

    .

    The industry ministry said imports had also been increased

    from northern Europe, and gas stocks were being tapped. The

    ministry convened a meeting on Monday of the national committee

    for gas emergencies and monitoring.

    Italy had to tap strategic reserves of gas in the winter of

    2006 due to a spat between Russia and Ukraine that halted gas

    supplies to Europe.

    (Reporting By Silvia Aloisi; Editing by Will Waterman)

     

    There are no comments yet

    BECOME A FAN ON FACEBOOK

    RECENT ACTIVITIES