Italy Invests to Curb Reliance on Supplies from Non-OECD Countries

Italy will step up its efforts to decrease its reliance on gas supplies from non-OECD countries in the coming months. Eni and Edison decided to set up a joint venture to work on 26 offshore projects. 

Earlier this month, the European Investment Bank (EIB) approved a loan of €1.3 billion to foster projects in the country.

‘The projects concern the maintenance and upgrading of existing wells and facilities and the installation of new platforms,’ reads a note released by the EIB.

According to the bank, this operation is ‘highly strategic,’ as nearly 70% of Italy’s gas supply comes from non-OECD countries that ‘may present geopolitical risks for energy supply.’