Europe needs regulated gas bank
The CEO of Italy’s Snam said that Europe needs to set up a regulated gas bank to find a solution to the ongoing energy crisis.
"We need a kind of whatever it takes of gas," Snam CEO Marco Alvera said during Sustainable Future Forum Asia.
Alvera explained that using the existing unused storage space, the continent can create this gas bank.
Europe has been witnessing soaring gas prices with some accusing Russia, the main exporter, for using the situation to its gains.
EU's Energy Commissioner, Kadri Simson; however, said that "Our initial assessment suggests that Russia is fulfilling its long-term contracts while not providing any additional supply."
KEEPING THE ENERGY INDUSTRY CONNECTED
Subscribe to our newsletter and get the best of Energy Connects directly to your inbox each week.
By subscribing, you agree to the processing of your personal data by dmg events as described in the Privacy Policy.
More oil news
Oil Declines as Trump’s Wide-Ranging Tariffs Threaten Demand
Oil, natural gas and refined product imports exempted from new US tariffs
Oil Rally Wavers as Focus Turns to US ‘Liberation Day’ Tariffs
Big Oil Morphs Into Big Gas in China as EVs Slash Fuel Demand
Nigerian President appoints former Shell executive as new CEO of NNPC
Sempra to Sell Assets as Utilities Raise Money for AI Boom
China Vanke Due as Chinese Developers See Signs of Recovery
Trump Revokes Permits to US, Foreign Oil Firms in Venezuela
S&P 500 Sinks 2% as Economic Fears Spur Bond Rally: Markets Wrap
