Europe can limit its dependence on Russian energy through diversification "in a relatively short time". Italian Prime Minister Mario Draghi sees no risks before the next heating season.
Draghi said this in an interview with Corriere della Sera.
"We no longer want to depend on Russian gas, because economic dependence should not become political subordination," he said. - To do this, we need to diversify our energy sources and find new suppliers.
To move away from Russian energy, Italy's Eni signed an agreement with Algeria's Sonatrach earlier this month to receive an additional 9 billion cubic meters of gas. "Other countries will follow suit. Diversification is possible and feasible in a relatively short period of time, shorter than we anticipated just a month ago," he said.
Russia currently supplies about 40 percent of Italy's natural gas. The EU agreed to stop importing coal in early April, and there is pressure to extend that to oil and gas.
"Europe continues to finance Russia by buying oil and gas, including at a price that has nothing to do with historical values and production costs," Draghi said.
When asked about winter and the risk of a slowdown in industrial production if there is a gas shortage, Draghi said Italy is well positioned with gas in storage and new gas from other suppliers.
"Even if containment measures are taken, they will be soft," he said, adding that they would include reducing heating by 1 to 2 degrees and making similar changes when it comes to air conditioners.
Draghi also said the goal would be to invest quickly in renewable energy sources. "The obstacle so far has been mostly bureaucratic and permitting," he said, "We can no longer afford these vetoes."
