Italy wants to limit the price of gas in the EU - the Minister of Energy calls for the establishment of a "ceiling" of 60 euros/MWh
The European Union should extend the emergency limit on gas prices and set a ceiling of 60 euros per megawatt hour to prevent large fluctuations, Italy's Energy Minister Gilberto Pichetto Fratin announced.
Fears of an energy shock have grown after Ukraine refused to renew its gas transit agreement with Russia, marking the end of Moscow's decades of dominance over Europe's markets.
The existing EU price cap expires at the end of this month and applies only if European gas prices exceed 180 euros per megawatt hour, a level not reached since the early days of the Russia-Ukraine conflict.
"I think that the EU at this point should renew the price limit, but not at 180 euros, now it should be set at 50 or 60 euros," said the Italian minister.
Italy's energy minister said the country had enough gas reserves to ensure there would be no outages over the next two months.
"I assure everyone, we have no problems. The gas storage system in the country is filled to almost 80% of its capacity," Fratin stressed.
Italy has gradually increased its liquefied natural gas import capacity since 2022 as part of plans to replace Russian supplies.
With a new floating terminal set to begin commercial operations in early April, Rome will be able to import up to 28 billion cubic meters of liquefied natural gas a year, the same amount it received via pipeline from Russia in 2021.
Total gas demand for the country is estimated at around 61 billion cubic meters for last year, with Algeria and the Nordic states among the main suppliers.
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