Gas accounted for around 51% of Italy's total electricity generation in 2022, making the country the most gas-reliant among Europe's largest economies, data from Ember shows.
INDUSTRIAL BASEKey to natural gas' staying power in Italy's generation mix is the country's high level of industrial energy demand.
However, Italy's power costs have climbed sharply since Russia's invasion of Ukraine in 2022 cut natural gas supplies to Western Europe and sent regional power costs soaring.
This week's ENI deal offers additional protection for consumers by further reducing Italy's reliance on Russia for natural gas supplies, even as it cements Qatar's position as Italy's top LNG supplier.
Higher gas supplies may also help reduce overall power costs, and in turn should help boost the competitiveness of Italy-based businesses relative to regional rivals.
Persons:
Dado Ruvic, Gavin Maguire, Edwina Gibbs
Organizations:
REUTERS, Italy's ENI SpA, Gas, Energy Institute, United States, Department of Commerce, LSEG, ENI, Reuters, Thomson
Locations:
LITTLETON , Colorado, QatarEnergy, Southern, Italy, Europe Italy, Europe, United, Ukraine, Western Europe, Germany, Russia, United States, Algeria, Qatar