• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 7 mins Could Someone Give Me Insights on the Future of Renewable Energy?
  • 1 hour The United States produced more crude oil than any nation, at any time.
  • 18 mins How Far Have We Really Gotten With Alternative Energy
  • 18 hours Bankruptcy in the Industry

Italy Makes Headway In Reducing Its Reliance On Russian Natural Gas

As Europe tries to kick the Russian energy habit, Italy is making significant headway in severing its reliance on Russian natural gas—even more headway than Germany. Italy has reduced the mix of Russian gas mix as part of the total imported to just 25%, according to Bloomberg.

That’s down from 40% in January, well before Russia invaded Ukraine.

Meanwhile, Germany still imports 35% of its total gas imports from Russia, with the United States and Qatar only able to supply 30 billion cu m of nat gas equivalent to Europe combined. For comparison, Europe imports 150 billion cu m annually.

Germany has big plans to reduce its dependency on Russian energy, though. According to Joerg Kukies, Germany’s deputy finance minister, Germany will stop importing Russian coal entirely starting in just two weeks. It also has plans to kick its Russian oil habit completely by December 31.

Of course, Italy’s reduction in natural gas exports from Russia is helped along in no small part by Gazprom reducing its flows to Italy by one-third, to just 21 million cubic meters of natural gas per day, down from more than 60 million cubic meters before June, when Gazprom started to reduce the flow.

Germany should also be boosted along its quest to reduce its reliance on Russian natural gas starting this week, as Russia’s Nord Stream 1 pipeline shuts for maintenance for at least 10 days. Europe worries that the flow of gas could be shut off for even longer—a retaliatory move for their sanctions against Russia. Talk of a price cap on Russian oil by the EU and the United States could further incite Russia to curb the flow of gas into Europe as it tries to refill its nat gas storage ahead of winter.

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:

Join the discussion | Back to homepage

Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News