Key policy ties in with the Maltese government’s prospective energy shift to gas, supplied by Azeri state corporation SOCAR
The European Union is looking southwards to develop a “southern gas corridor” for natural gas from Azerbaijan to fuel the European mainland.
The European Commission released an EU energy security strategy earlier this week, in response to the political crisis in Ukraine which is threatening gas supplies from Russia, after Russian President Vladimir Putin warned that Russia could cut off supplies to Ukraine unless the latter starts to pay off its gas debt, which Russia’s Gazprom says stands at €2.5 billion. Continue reading
Italy could increase gas imports from Algeria, Libya and the Netherlands to counter any disruption of supplies from Russia, Deputy Industry Minister Claudio De Vincenti said on Monday as G7 energy ministers gathered in Rome.
“We are capable of rapidly increasing imports from the supplier countries … Libya, Algeria and the Netherlands,” De Vincenti told Reuters.
Italy, which generates more than 40% of its electricity from gas, is increasingly dependent on Russian gas as Algerian imports decline and Libyan supplies are limited by growing unrest in the country. Continue reading