Italy's Draghi confident of hitting gas storage target

Italy's Prime Minister Mario Draghi said on Thursday he was confident of achieving the year-end target of gas storage filled to 90% of its capacity by November.

Italy's Prime Minister Mario Draghi said on Thursday he was confident of achieving the year-end target of gas storage filled to 90% of its capacity by November. Rome aims to have its gas storage system filled to at least that level by the end of this year, up from around 58% at present.

Italy's government said on Thursday it was lending state-owned firm GSE 4 billion euros ($4.2 billion) to buy gas to boost stockpiles as the country scrambles to tackle a gas supply squeeze from Russia. "The measure we approved today is very important for these stockpiles," Draghi said.