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Italy's Russian gas supplies cut, taps stocks

Italy's gas supplies from Russia continued to be severely affected on Wednesday, Eni said, while the Industry Ministry added the country's gas stockpiles have been tapped as the dispute between Russia and Ukraine continues.

In a statement, Eni, Italy's dominant gas operator, said supplies from Russia through the TAG pipeline were significantly reduced as of 2400 GMT (1 a.m. local Wednesday).

On Tuesday an Eni spokesman said gas supplies through the TAG pipeline on Tuesday had been reduced by 90%.

An industry ministry spokesman said on Wednesday that Italy has started tapping gas stockpiles after supplies of Russian gas to Italy touched new lows.

Italy's Stogit, the Eni-owned company that manages about 98% of Italian gas storage facilities, had working gas storage capacity on Nov. 1 last year of 8.4 billion cubic meters (bcm).

On its web site Stogit said working gas reserves at 0500 GMT on Tuesday were 6.684 bcm.

Italy also has strategic gas reserves of around 5.1 bcm.

Eni chief executive Paolo Scaroni said on Tuesday that Italy has no reasons for concern regarding its energy supplies over the next few weeks.

Russia supplies about 31% of Italy's gas imports, or about 60 million cubic meters a day. (Reuters)