European Crisis Due to Lack of Clear Governance in Energy Sector, Says Scaroni

Eni’s Paolo Scaroni called on European Governments to work on measures to decrease energy and gas prices across Europe, proposing shale gas production and stronger relationships with Russia as the two main solutions. 

“It is clear that Europe has piled up serious mistakes in the last ten years. We now have among the highest energy prices in the world,” Eni’s CEO told French newspaper Les Echos.

Scaroni underlined the gravity of the situation, restating that the European economy is seriously threatened by energy prices.

According to the head of the six-legged dog, the main mistake is the lack of clear governance. 

On the one hand, he claimed that European bodies share overlapping responsibilities. Europe also lacks one single role summing up the instances stemming from the four departments involved: environment, industry, foreign policies and competition. On the other hand, Scaroni argued that there is also confusion about the distribution of responsibilities between Brussels and member states. 

Last October, Scaroni said that the shale gas revolution is destined to go global, with countries like Ukraine, China and Pakistan set to join North America in the exploration of shale formations in the near future.