Italy: Government Authorises Independent Resources' Underground Gas Storage Project

UK-incorporated Independent Resources has today announced that it has received a ministerial decree from the Italian Ministry of Environment and Ministry of Cultural Assets and Activities to develop the next phase of its Rivara underground gas storage project in Northern Italy.

The decree formalises a decision already made by the ministry to sanction an appraisal phase for the project, during which Independent Resources will seek to examine the project's technical characteristics, in order to confirm the feasibility and safety of the project.

The company says the decree is especially welcome in consideration of the recent cold snap across Europe which severely affected gas supply to Italy, due to lowered supply from Russia's Gazprom. Together with a planned drilling programme, Independent Resources says it hopes its activities can ensure future gas security.

"The company hopes that Italy's Ministry of Economic Development can now work cooperatively alongside the region of Emilia-Romagna to reach the required agreements for a mineral title that would then allow the company to drill its planned appraisal wells and ultimately pave the way towards the security of gas supply and flexibility that Italian industry has been advocating for years," a statement for Independent said.