South Korea's Largest Company ENI "No Supply from the 1st"
[Asia Economy International Desk Reporter] Italy's largest energy company Eni has reportedly not received natural gas from Russia's state-owned energy company Gazprom for three consecutive days, according to major foreign media on the 2nd (local time). The Russian side claims it is due to Austrian regulations.
According to reports, Eni, which imports the largest volume of Russian gas in Italy, has not received gas from the 1st to the current date, and the supply suspension is expected to continue until the 4th.
Gazprom stated via Telegram that the issue is due to changes in Austrian regulations. Austrian authorities explained that Gazprom must sign the recently amended supply contract, but the company has not complied, causing supply problems. Eni pointed out that Austria continues to receive gas from Gazprom, and Austrian energy company OMV also stated there are no supply issues.
European countries, including Italy, are facing growing energy security concerns due to rising energy prices and threats of supply suspension from Russia ahead of the winter demand surge. Tensions have especially increased recently following leak incidents in the Nord Stream 1 and Nord Stream 2 underwater gas pipelines.
More than 40% of Italy's annual gas imports were from Russia, but this ratio is reportedly down to about 10% recently. Earlier, Eni announced in its Q2 business report released at the end of last month that it has signed new gas supply contracts with African countries such as Algeria, Egypt, and Congo, and plans to completely replace the annual gas imports from Russia (20 billion cubic meters) by 2025.
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