Italian Foreign Minister: Gas prices are out of control & we need European legislation

NNA - Rome - Nova Agency - Italian Minister of Foreign Affairs and International Cooperation Luigi Di Maio stressed the need for European legislation on gas prices, the Italian news agency “Nova” reported.

"The price of gas in Europe, which is regulated through the Amsterdam Stock Exchange, is out of control," Di Maio said, stressing that "European legislation and diplomatic action are needed to convince the few who have not yet agreed."

Di Maio explained that his country "does not suffer from a quantitative problem, as it is able to compensate for the decline in supplies from Russia with three pipelines from Libya, Algeria and Azerbaijan, and with agreements to transport liquefied natural gas," noting that "the problem is that the price is not negotiated in contracts, but through the gas exchange in Amsterdam, which is today out of control, and that methane prices are a hundred times higher than the Asian and American stock exchanges.”

He continued, "Before the spread of epidemic, gas cost 40 euros per megawatt, it costs more than 170 euros," pointing out that there is an "unsustainable" cycle that can only be stopped by "diplomatic action" that "must lead to Italy’s victory."

Accordingly, Di Maio is currently leading this campaign, while affirming that "most countries agree, and there are a few countries that need to be convinced."



تابعوا أخبار الوكالة الوطنية للاعلام عبر أثير إذاعة لبنان على الموجات 98.5 و98.1 و96.2 FM

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