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  4. Russia cuts gas to Italy by 15% (16)

Russia cuts gas to Italy by 15% (16)

Gazprom doesn't give reason or say how long cut will last

(ANSA) - ROME, JUN 15 - Russia on Wednesday cut its daily gas supplies to Italy by 15%, fuels giant Eni said after being informed by Russian energy giant Gazprom.
    Eni said Gazprom had not given a reason for the reduction, and did not say how long it would last.
    Italian officials have said there are sufficient stocks to offset any reduction in gas supplies.
    Ecological Transition Minister Roberto Cingolani said Wednesday "at the moment there no critical issues" with the gas supply.
    He said supplies were being "constantly monitored with operators".
    Italgas CEO Paolo Gallo said "we have to do our sums before getting concerned. The positive element ts that the level of stocks is high and we are continuing with topping it up".
    The Italian government has "moved rapidly" to diversify suppliers by scrambling to set up alternatives with countries like Algeria, Angola, Congo, Libya, Egypt, Israel and Mozambique, Premier Mario Draghi said recently.
    Rome is trying to wean itself off Russian gas, which currently accounts for 40% of total gas imports.
    Gazprom's move came after it cut supplies of gas to Germany by 40%, a decision described as "political" by the German government.
    German Economy Minister Robert Habeck said Gazprom was trying to raise prices by its cuts.
    The price of natural gas in Amsterdam closed sharply up Wednesday with July futures up 24% to 120.33 euros per MWh, back up to March 30 levels.
    Methane was up 31.15% to 257.78 pennies at the MBTU in London.
    European Commission President Ursula von der Leyen on Wednesday signed what she called an "historic accord" to get Israeli natural gas for the European Union, sources said after her meeting in Cairo.
    The gas will be pumped to the EU via Egypt, von der Leyen explained after the deal. (ANSA).
   

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