Weeks after Russia launched its so-called special operation in Ukraine Claudio Descalzi, the CEO of energy major ENI, began swift official visits to Africa to secure gas supplies for Italy It's called conducting strategic meetings with energy suppliers in Algeria Angola Egypt and also the Republic of Congo Seven months later, they discuss how this move has proven to be strategically beneficial for Italy while many European countries fell prey to Vladimir Putin's Italy was ready to leverage existing supply relationships with African nations to secure extra gas and replace an oversized a part of the degree it received from its top supplier, Russia Germany, on the opposite hand, failed to take steps to arrange for a prospective freeze in Russian gas supplies in June. Chancellor, we've got relied too long and too heavily on energy supplies from Russia.
The old equation that Russia may be a reliable economic partner even in crisis not applies Germany, which was a ecu champion and an economic powerhouse, has now been caught wholly unprepared. it's on the brink of recession and its industries are preparing for severe gas and power shortages Meanwhile, in Italy, due to Claudio Descalzi, Rome is now looking comparatively resilient on the energy front. Italy's foresight has now given it a plus over several European powerhouses in facing the winter months confidently.
A severe energy crisis takes a toll on the entire of Europe Italy now finds itself in a very comfortable position when it involves gas supplies Martin Murphy, an oil and gas research specialist at Wood Mackenzie, said although Italy had long counted Russia as its biggest gas provider due to its greater diversity of suppliers and longstanding links with Africa, it had been better placed to resist a succession of Russian supplies than many others. Germany, unable to secure long-term replacement supplies from other countries, has been forced to shop for gas at prices which are eight times higher. Germany doesn't enjoy proximity to geographic region like Italy does, nor does it have major oil or gas reserves,
So is Germany caught between a rock and a tough place and has its error for Italy's Most of the additional gas will come from Algeria Algeria will increase total deliveries to Italy by nearly 20% to 25.2 billion cubic metres this year. Italy will receive an increased flow of liquefied fossil fuel from Egypt Qatar Congo From the spring of 2023 Italy also turned its back on the development of the smaller transatlantic pipeline from Azerbaijan via Greece and Albania Germany, meanwhile, has once more been blindsided The German Chancellor's officials said that Germany will take new loans through an Economic Defence shield of up to €200 billion to regulate the soaring energy prices. German business morale has fallen further than expected in September as high energy prices still take their toll on businesses in Europe's largest, which now seems ready for a recession The right-wing coalition of Italy has been critical of the sanctions on Moscow. Voices from within election winner Georgia Maloney's brothers of Italy party argue that sanctions are damaging Italy quite they're damaging Russia, which welcomes an EU wide cap on energy prices but doesn't white cap Italy is actively carving out a replacement
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