Italy's Energy Strategy Amid Middle East Tensions

Italy's energy minister, amid Middle East conflicts, considers restarting coal power stations as a precautionary measure. Despite regional oil disruptions, Italy's diversified gas supply and high storage levels make it relatively secure. The ongoing geopolitical tensions have affected major oil transit routes, posing potential risks to global energy supply.

Italy's Energy Minister, Gilberto Pichetto Fratin, indicated on Wednesday the possibility of reactivating coal-fired power stations if Middle East unrest leads to a global energy crisis. Despite this precaution, he assured that Italy remains 'quite safe' due to its energy strategy.

The tensions escalated as Israeli and U.S. forces targeted Iranian sites, prompting retaliatory strikes on energy infrastructure in various Gulf states. This has significantly disrupted the region, which is responsible for nearly a third of global oil production, including attacks on tankers in the vital Strait of Hormuz.

Italy's strategic planning includes a diversified gas supply from countries like Norway, Algeria, and Azerbaijan. Its gas storage, managed by Snam, is currently at 47%, well above the EU average. Minister Pichetto Fratin emphasized that the country's gas supply is secure, thanks to its robust storage levels and diversified supply sources.

(With inputs from agencies.)