Italy: Europe has switched to a war economy due to the Ukrainian crisis

Italy’s Environment Minister, Roberto Cingolani, said that Europe has switched to a “war economy”, which will result in great suffering for some countries due to the energy decisions of other countries.

“Are in a war economy, e in this war economy, some countries will suffer much more from the energy decisions of other countries, “added Singolani.

The minister said that the European Commission is discussing the second recovery plan to restore the economies of European countries, similar to the model adopted after the epidemic, according to what was reported by the Italian news agency “ANSA”.

Italy, which imports around 40% of Russia’s gas imports, is struggling to diversify its energy supplies as the conflict in Ukraine intensifies.

The Italian minister said in statements last week that Italy is withdrawing from Russian gas, but will face a critical winter if Moscow cuts off supplies immediately.

Earlier, Prime Minister Mario Draghi said Italy is ideally placed to play a bridging role for gas from Africa and the Middle East to Europe.

Cingolani stated that, in based on the agreements concluded with producing countries, Italy will receive 12 billion cubic meters of new gas through pipelines and 12.7 billion cubic meters of liquefied natural gas by 2025.

Italy has only three operational LNG terminals and it is in negotiations for the purchase of two floating vessels to increase capacity.

“It is very important that the first floating station is operational by early 2023,” Singolani explained.

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