Draghi: Italy has stockpiled 80% of natural gas reserves

By COLLEEN BARRY
AP Business Writer

MILAN (AP) — Outgoing Italian Premier Mario Draghi said the country is less vulnerable to interruptions of Russian natural gas supplies because of its moved rapidly to reduce dependence on Moscow. He said Wednesday that Italy has already stockpiled 80% of its capacity of natural gas reserves ahead of winter and is on track to hit 90% by October. Draghi told an annual summertime festival in the Adriatic seaside town of Rimini that Italy has reduced its reliance on Russian gas from 40% last year to half that by finding new sources in countries from Algeria to Azerbaijan. Russia’s war in Ukraine has driven natural gas prices to record highs, fueling inflation worldwide.