In an informative hearing at the Senate of the Republic, Cingolani described as unacceptable “this gas price that translates into speculation by certain intermediaries who speculate and do not produce, but only carry out transactions,” linked to the market of futures.

In this sense, he said that in view of the coming winter, Italy will have to refill its storage areas to 95 percent with 12 billion cubic meters, which will mean paying 15 billion euros compared to three billion a year ago.

The minister pointed out that Italy imports 95 percent of the gas it consumes, with Russia as the main supplier with around 39 percent of the total, and ruled out any reason for concern in the short term even if supplies from that Eurasian nation are interrupted.

Cingolani pointed out that, in such a situation, problems could arise from next winter, and mentioned the government’s negotiations with several countries to reduce by around 20 billion cubic meters the purchases of Russian gas amounting to some 30 billion cubic meters per year.

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