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Gas: Cingolani, with Russia now stopping critical winter

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Draghi launches 14 billion of exceptional measures against high cost of living (ANSA)

(ANSA) – ROME, MAY 03 – “If Russian gas were to be stopped now, we would have a serious problem with storage”. This was stated by the Minister of Transition, Roberto Cingolani, in the Chamber. “To reach 90% storage for the winter of 22-23 it would take about 6 months, we would arrive with full storage and we could face the next winter and the following ones with some peace of mind”. “An immediate interruption of Russian exports – he adds – would make the overcoming of the winter of 2022-23 critical in the absence of significant demand containment measures which are obviously foreseen”.

According to the minister, moreover, “the tension on the markets has also determined, after the sharp decrease in 2020, a dizzying increase in energy costs: as regards the natural gas market, the price at the PSV (Virtual Trading Point of natural gas in Italy) went from around 20 euros per MWh in January 2021 to around 100 euros per MWh in April, with an increase of almost 5 times (and with daily peaks that exceeded the record values ​​of 200 euros) “. But Cingolani argues that for Italy or any other large interconnected European country the national price cap would be extremely difficult to sustain “and” the market would simply skip it because it is not convenient to sell gas there. It wouldn’t be a particularly smart policy. “


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Source: Ansa

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