MILAN, April 13 (Reuters) - The European Union should reconsider its plans to progressively ban imports of Russian gas from the start of 2027, Claudio Descalzi, the CEO of Italian energy group Eni
EU should reconsider its plans to ban imports of Russian gas, Eni CEO says
European Union's Russian Gas Ban and Its Implications
MILAN, April 13 (Reuters) - The European Union should reconsider its plans to progressively ban imports of Russian gas from the start of next year, the head of Italian energy group Eni says.
Timeline and Scope of the Russian Gas Ban
Russia faces a European ban on imports of Russian liquefied natural gas on short-term contracts from April 25 and on long-term contracts from January 1, 2027.
Challenges in Replacing Russian LNG
However, Eni CEO Claudio Descalzi was quoted by Italian news agencies as saying it was unclear how the bloc could replace 20 billion cubic metres of Russian LNG from Russia.
Impact of Geopolitical Tensions on Energy Supplies
The Iran war had disrupted energy shipments in what he called "the most important event of the last 40 years" to affect energy supplies. He made the comments at an event organised by Italy's co-ruling League party on Sunday.
Global Energy Market Disruptions
The U.S.-Israeli war against Iran has shut the Strait of Hormuz - a waterway that normally carries about a fifth of global LNG supplies - to most ships, resulting in a tighter supply outlook and higher gas prices.
Concerns Over European Gas Storage Levels
Last week, the European Network of Transmission System Operators for Gas (Entsog) issued a warning about gas storage levels, saying the conflict in the Middle East is restricting Europe's ability to refill storages, which at the beginning of this month were at their lowest level since 2022 nL6N40S0VS.
(Writing by Cristina Carlevaro and Francesca Landini, editing by Alvise Armellini and Susan Fenton)
