en.Wedoany.com Reported - Claudio Descalzi, CEO of oil and gas company Eni, predicted at a hearing in the Italian Chamber of Deputies that European natural gas prices will remain high in January 2027. According to RIA Novosti, Descalzi explained that the complete halt of Russian liquefied natural gas (LNG) supply starting January 1, 2027, will lead to a significant market shortage, while underground gas storage fill rates will be lower than last year's levels.

According to expert calculations, Europe needs to compensate for the shortfall of 36 billion cubic meters of natural gas previously imported from Russia through alternative routes—primarily from the United States and East Asian countries. Italy's underground gas storage fill rate remains at 71% to 72%, comparable to last year. However, the more limited gas reserves in certain EU countries increase risks across the European region, given the high share of this fuel in their energy mix. According to Eni's general manager, when a cold snap arrives in January, without Russian supply, the level of gas security will be lower than last year.

Against the backdrop of tensions in the Strait of Hormuz and concerns over potential energy supply disruptions, the European Commission has lowered the target fill level for gas storage before winter from 90% to 80%. EU Commission official Anna-Kaisa Itkonen noted that current inventory levels are not yet sufficient to raise concerns about disruptions to the heating season, but energy prices remain volatile.