MILAN (Reuters) – Italy’s company lobby Confindustria forecasts an virtually 2% strike on the country’s gross domestic product or service (GDP) on common for each yr in 2022 and 2023 in situation of a halt of organic gas imports from Russia in June, it explained in a investigation notice.
“A halt of gas imports from Russia could have a very robust influence on the presently weakened Italian economic climate,” Confindustria said, including the negative implications would come from a big shortage of fuel volumes for sector and expert services and an further maximize in strength fees.
Past year Russia was Italy’s biggest provider of purely natural fuel, offering 29 billion cubic metres or 40% of total gas imported by the place.
Adhering to Russia’s invasion of Ukraine, the Italian governing administration has been trying to find alternative electricity suppliers and its ministers have travelled to Africa and the Center East to safe new contracts.
As element of this hard work, Italy’s strength team Eni and Algeria’s Sonatrach on Thursday signed a deal to accelerate the development of gas fields in Algeria and of green hydrogen.
This go is expected to improve the North African country’s gas exports to Italy by some 3 billion cubic meters (bcm) for every yr.
(Reporting by Francesca Landini Editing by Raissa Kasolowsky)
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