To reduce energy prices, it is necessary to increase production, but at the moment this is almost impossible. such an opinion expression Interfax news agency wrote at an energy conference in Abu Dhabi that Claudio Descalzi, head of Italian oil and gas company Eni, said:
We need to increase production to lower prices, but right now it is almost impossible because if we are talking about new projects, it takes 6-7 years or even more.”
According to the head of Eni, financing new oil and gas projects is difficult, as it is necessary to meet the requirements of financial institutions to achieve climate neutral goals.
Descalzi emphasized that oil and gas demand exceeded supply due to insufficient investment in previous years.
According to him, another problem is the disruption of supply chains due to the coronavirus pandemic. For companies to survive, all materials for production must be available in the country of origin.
Earlier, on January 14, Saad Al-Kaabi, Minister of Energy of Qatar, at the Atlantic Council Energy Forum in the UAE declarationThat Russian gas will return to the European Union, which will help stabilize energy prices.
the previous day reportedBrent oil’s March futures contracts rose to $85 a barrel for the first time since Jan.
On the same day, the foreign exchange prices of gas in Europe sank At less than $700 per thousand cubic meters, more than 6% loss.