Platts: Europe should create common strategic gas reserve - Snam CEO

Italy's Snam is proposing the creation of a European stored gas reserve to ensure countries have enough gas in the event of a supply emergency, the CEO of Snam, Carlo Malacarne said.

"The idea is to establish a European gas reserve, using a model that could be borrowed from the oil sector, for which member states already have an obligation to maintain a minimum level of reserves," he told Platts in a written interview Monday.

The plan was "still at an early stage" he said, adding that the European storage sites which would be used to form the common reserve had not yet been identified, although he said "initially they could be located in Italy and Germany."

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