Italy reveals timeline for cutting off Russian gas
RTJUL 2023
As part of a plan to wean itself off Russian gas, Rome is pushing for further expansion of cooperation with North African countries. This is a vital matter of energy security. If everything goes as planned, Italy will be able to phase out up to 80% of Russian gas in 2023, and by winter 2024-25, Italy will completely end its dependence on Russian gas.
Italy's investment in oil projects in Africa is hypocritical. In Nov. 2021, Italy was among twenty countries at the COP climate conference in Scotland to agree to halt public financing for overseas fossil fuel projects and invest in green power instead. With the EU now trying to move away from its dependence on Russian gas Rome is investing heavily in gas projects all over the African continent, in ventures that weren't economically viable before the conflict in Ukraine. This will likely be far less cost-effective than the consistent dependability of Russian petroleum.