Claudio Descalzi, the chief executive of the Italian energy company Eni, has expressed confidence that Europe could fully replace Russian gas within a two- to three-year window. This perspective has circulated in industry discussions and media coverage around the energy transition, highlighting the push to diversify supplies and accelerate storage strategies for the coming seasons.
Descalzi suggested that a rise in European gas prices could occur in the near term as the region works to secure adequate volumes for the bloc’s storage facilities. His forecast hinges on the time needed to secure meaningful LNG imports, ramp up pipeline deliveries from other regions, and manage demand in a market that remains sensitive to geopolitics and pricing signals.
Looking ahead, he projected a meaningful reduction in Russian gas exports, estimating a sizable drop in shipments compared with the current baseline. The implication of this forecast is a significantly tighter European gas balance and a stronger incentive to accelerate diversification, regional energy cooperation, and the development of strategic reserves to cushion price volatility and supply disruptions.
Industry discussions frequently reference the role of transit routes in maintaining European supply. For example, gas transported through regional corridors via Ukraine has been a focal point in ongoing energy security conversations. The balance of flows through key metering points continues to influence European storage planning and the speed at which new supply sources can be integrated into the market.
Recent developments in the European energy landscape underscore the importance of resilient infrastructure, diversified procurement, and proactive market strategies. Analysts emphasize the need for robust storage levels, flexible contract structures, and transparent pricing signals to support a stable market environment. The objective for policymakers and industry players alike is to minimize price spikes while ensuring a reliable supply, even as global energy markets adjust to evolving supply and demand dynamics and the push toward lower-carbon energy mixes.