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ADNOC Drilling H1 revenue $2.37bn

The company posted a net profit of $692m.

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

Russia suspends gas supply to Italy due to transport issues

The deal has been signed with local and regional banks (WAM)
  • Most of Russian gas delivered to Italy passes via Ukraine through Trans Austria Gas Pipeline (TAG), to Tarvisio in northern Italy
  • Before the war in Ukraine, Italy imported 95 percent of the gas it consumes -- about 45 percent of which came from Russia.

SOFIA, BULGARIA – Russia’s Gazprom has suspended gas deliveries to Italy’s Eni, blaming a transport problem in Austria, the Italian energy giant said.

“Gazprom told us that it was not able to confirm the delivery of the volumes demanded for today, citing the impossibility of gas transport through Austria,” Eni said in a statement on Saturday.

As a result, “Russian gas flows to Eni via the Tarvisio entry point will be naught”, it said.

Most of Russian gas delivered to Italy passes via Ukraine through the Trans Austria Gas Pipeline (TAG), to Tarvisio in northern Italy on the border with Austria.

Before the war in Ukraine, Italy imported 95 percent of the gas it consumes — about 45 percent of which came from Russia.

Outgoing Prime Minister Mario Draghi has signed new deals with other gas producers to reduce Italy’s reliance on Russia, lowered to 25 percent as of June, while accelerating a shift towards renewable energies.