Italy's MFA undersecretary Di Stefano announces IT government intends to double TAP capacity to 20 bcm, also considering supplies from Turkmenistan "in the future"
Mentions 2 important caveats
- market tests (so far, not so good)
- Azerbaijan additional supplies (who knows?)
Mentions 2 important caveats
- market tests (so far, not so good)
- Azerbaijan additional supplies (who knows?)
Interestingly, the undersecretary(M5S) does not mention EastMed/Poseidon. M5S sided with local protests against TAP in the past, and may have reservations to support a project that implies another pipeline landing on the same territory. Something an expansion of TAP doesn't need.
Any sudden rush to additional pipelines in Italy faces however some risks. First, imagine Russia changes policy at some point in the near future, and decides to flood EU markets (provided it has capacity to do so) taking prices abruptly down
Second, climate targets. In the current environment, capital intensive projects with long pay-back periods need to address the risk of carbon lock-ins or asset stranding. Who's going to pay for it?
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