The possible interruption of supplies of Russian gas to Europe due to the crisis in Ukraine would only be felt in 2015, because stocks are currently sufficient. This was stated by Eni's managing director, Paolo Scaroni, specifying that this is the worst case scenario, ie the case of a total block on Russian exports through Ukraine.
“We always anticipate the most catastrophic scenario because we have to be prepared for the worst – the manager specified -. I don't think this scenario will materialize but, assuming it does, we don't expect any problems this winter. Stocks are sufficient to guarantee supplies. Next year would be at risk, in case the flow from Russia remains interrupted”.
The problems would be above all in southern Europe, because the gas passing through Ukraine is directed towards southern Germany, Austria and Italy: "This can be counterbalanced by greater imports from Algeria, Libya thanks to the gas it can arrive in Germany via the North Stream – continued Scaroni -. Overall the situation could be addressed. If, on the other hand, there were also problems in Algeria and Libya, then the situation would become critical".
In 2016 the situation would change completely, thanks to the South Stream project, Eni's gas pipeline which connects Russia with the EU passing under the Black Sea and without transit countries: “Since 2016 – concluded Scaroni – with South Stream the problem has not would no longer exist".
VENEZUELA: FIRST PERLA PRODUCTION AT THE END OF THE YEAR
As for Venezuela, "the first production of Perla is expected at the end of 2014: we are able to start production in the coming months", said the number one of ENI, when asked about the offshore gas project carried out with the Spanish Repsol together with the state company of Caracas, Pdvsa.
MOZAMBIQUE GAS ON THE MARKET IN 2019. KASHAGAN: PRODUCTION WILL RESUME WITHIN A FEW MONTHS
On the Mozambique front, however, Scaroni announced that "the gas produced will go on the market between the end of 2018 and the beginning of 2019", while the production of the mega oil field of Kashagan, in Kazakhstan, after the accident last October, "it will resume within the year at the latest".
IRAQ: SITUATION IMPROVED, THIRD CONTRACT SHORT
As regards Eni's activities in Iraq, "the situation has improved - underlined Scaroni -, we expect the signing of a third contract shortly: we have had assurances in this sense". The Iraqi government has already approved two contracts worth a total of approximately one billion dollars for Eni's Zubair oil site. The Italian oil giant is ready to leave Iraq, Scaroni reiterated, if the problems related to bureaucracy are not resolved: "The normalization of the country's business conditions has not taken place and profitability has become lower than expected due to the bureaucracy. We have strongly protested with the government and now the situation has improved. The latest government decision to counter bureaucracy has been successful”.
LIBYA, ENI PRODUCTION AT 80%
Finally, Libya. Scaroni remains optimistic, even if the transition phase will take time, because the Gaddafi regime has systematically destroyed all the country's institutions: "In Libya - he recalled - we currently produce around 220-230.000 barrels a day, which more or less correspond to the 80% of our maximum capacity. We are handling a difficult situation reasonably well. Libya remains a priority for Eni. The difficulties depend on the fact that Libya has 42 years of dictatorship behind it, a very long period of time. I remain optimistic, because a country with 5 million inhabitants, 2 million barrels a day and 3.000 kilometers on the Mediterranean can be a paradise and I don't think the Libyans will waste these fantastic opportunities."
