Gas markets remain “very volatile” due to the halt in Russian supplies to Europe, the head of Italian energy group Eni ENI.MI said.

Italy and other European countries have sought alternative sources of gas supplies in reaction to the Russian invasion of Ukraine last year.

“The energy situation, with Russia that has created a (supply) gap of 150-160 billion cubic metres of gas, is still very volatile,” Descalzi said at an energy conference in Milan.

“We see that there are still fluctuating prices” despite gas storage facilities in Europe being more than 95% full, the manager added.
Source: Reuters (Reporting by Francesca Landini and Giancarlo Navach, writing by Alvise Armellini, editing by Cristina Carlevaro)