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HomeBusinessEni CEO: High gas prices indicates Europe's need for energy plan

Eni CEO: High gas prices indicates Europe’s need for energy plan

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The head of Italy’s Eni told La Repubblica newspaper that the high gas prices ahead of winter are evidence that the EU needs to plan a long-term energy source.

Claudio Descalzi highlighted that the EU imports nearly all the natural gas and most of the oil.

He added that this makes the Union dependent on foreign countries’ supplies.

“Europe needs to have what it hasn’t got today, a structured and long-term energy security plan,” Descalzi said in an interview on Saturday.

“I don’t think there will be problems with the gas acquisition, but it’ll cost more,” he added, concerning winter.

Eni company has critical long-term gas supply contracts with several countries that produce gas, including Russia.

Houses and businesses in Europe are facing much higher electricity bills because of the rising power and gas prices.

Consumer groups have warned against fuel poverty and that the most vulnerable could experience it in the future.

Spain called on the European Commission (EC) to provide assistance to member states.

It asked for guidance to react consistently against high power prices without testing the EC and bloc’s rules.

Mario Draghi, Italy’s PM, said this week Europe needs to expand its energy supplies.

Also, it needs to strengthen the negotiating power to purchasing countries for help in limiting the rise in power prices.

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