Bloomberg: Enel Seeks More Italy Gas Drilling as EU Diversifies
Enel SpA (ENEL), Italy’s largest utility, is pushing ahead with domestic natural gas exploration as local output is seen meeting 20 percent of demand at a price as much as 40 percent below imports.
The Rome-based company expects permits for its onshore exploration in the Emilia Romagna region in the north to be issued in the first half of next year, Marco Arcelli, head of Enel’s upstream gas division, said today in an interview at the European Autumn Gas Conference in London. Enel will also work on accelerating the issuance of permits for its offshore exploration area, he said.
Gas output in Italy can meet 20 percent of demand in 20 years, reducing the need for imports, Arcelli said. Italy meets 90 percent of its needs through imports, mainly from North Africa and Russia. Enel, which also produces in Algeria, signed a contract to buy supplies of liquefied fuel from the U.S. as the shale boom boosts production and reduces prices.