Italy to extract more natural gas as energy prices increases sharply: PM Meloni

Italy is required to extract more natural gas as energy prices increases sharply, the new Prime Minister of Italy Giorgia Meloni said on Tuesday as she presented her government’s programme to parliament.

“Our seas have gas reservoirs that we must fully exploit,” Meloni said. These include natural gas reserves around Sicily and along the Adriatic coast, which have been little used until now.

Before the Russian invasion of Ukraine, Italy imported almost 40% of its gas from Russia. To reduce this dependence, Meloni’s predecessor, Mario Draghi, signed supply contracts with Qatar, Algeria and Azerbaijan in recent months.

Italy must not only extract more gas but also invest more in green energy, said Meloni.

Paradoxically, the energy crisis could also become “an opportunity for Italy,” added the leader of the far-right Fratelli d’Italia party.

“I am convinced that with a little courage and a pragmatic mentality, Italy can emerge from this crisis stronger and more independent than before,” the Prime Minister added.

She described southern Italy as a “paradise of renewable energy with sun, wind and geothermal energy,” regretting that the development of these resources is often hampered by bureaucracy.