Eni CEO Urges EU to Rethink Russian LNG Ban Amid Supply Concerns

SEATTLE (Oil Monster):Claudio Descalzi, chief executive of Eni, has called on the European Union to suspend its planned ban on Russian liquefied natural gas (LNG), warning that current geopolitical tensions could strain energy supplies.

Speaking at an event in Rome, Descalzi cautioned that Europe may struggle to replace roughly 20 billion cubic metres of Russian LNG annually under prevailing market conditions. The EU plans to halt short-term Russian LNG contracts by April 2026 and impose a full ban on long-term imports from January 1, 2027.

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Descalzi emphasized that disruptions linked to tensions in the Middle East, particularly around the Strait of Hormuz, are tightening global supply and driving up prices. With Asia competing aggressively for LNG cargoes, he warned that eliminating Russian supplies could worsen shortages.

While supporting the EU’s long-term goal of reducing reliance on Russian energy following the Russian invasion of Ukraine, Descalzi suggested a phased or temporary suspension to protect Europe’s industrial base.

His remarks highlight growing tension between geopolitical strategy and energy security across the region.