Italian Minister of Economic Development Pushes for Cheaper Energy and Increased Diversification

The Italian Minister of Economic Development shares the concerns of other European Ministers, claiming that energy prices are central for the competitiveness and that shale gas developments can be a strategic advantage.

“Shale gas is a real revolution that can change the competitiveness of countries,” said Flavio Zanonato, Minister of Economic Development.

In his hearing to the Lower House of the Parliament on Wednesday, the Italian Minister underlined the importance of energy prices for the ability of the Italian industrial system to compete with other countries.

“We have to focus on the measures to decrease the price differentials … we run the risk to lose entire production chains. We cannot bear higher energy prices, which are already 20-30 per cent higher than the average,” said Zanonato.

According to the statistics by IEA, Italy is the country with the highest end-use prices for gasoline, diesel for commercial use and domestic heating oil among the top-5 European economies.

The Italian government authorised three LNG import terminals, aiming to double the national regasification capacity by 2020.