BREAKING NEWS

Italy minister sees late winter crunch if Russia cuts off gas

Italy would face a potential gas supply crunch at the end of the coming winter if Russia were to totally halt supplies, Ecological Transition Minister Roberto Cingolani said on Wednesday.

Assuming Russian gas supplies stopped completely at the beginning of winter, storage would be sufficient until February, he told a news conference.

Italy has been striking a series of deals to reduce its reliance on Russian gas after the invasion of Ukraine.

"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.

The head of Italian gas grid operator Snam SRG.MIechoed Cingolani's message in a separate briefing.

Snam CEO Stefano Venier said he saw risks for Italy only in the case of Russia totally halting supplies and a very cold January.

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