Italy's GSE to buy up to 4 bln euros of gas to boost storage - draft (updated)

GSE Systems

30/06/2022 16:00

(Adds details, background)
    ROME, June 30 (Reuters) - Italy's state-owned firm GSE will
buy up to 4 billion euros  ($4.17 billion) of gas to boost
stockpiles, a draft decree seen by Reuters showed on Thursday,
as the country scrambles to tackle a gas supply squeeze from
Russia.
    Rome aims to have its gas storage system filled to at least
90% of capacity by the end of this year, up from 58% at present.
    The state energy management agency Gestore dei Servizi
Energetici (GSE) - in charge of promoting renewables - will help
boost gas stockpiles as surging energy prices complicate
operators' efforts to help meet the year-end target set by the
government.  urn:newsml:reuters.com:*:nL8N2YB2BI
    The scheme, first reported by Reuters last week, is still
subject to approval as part of a broader decree which includes
measures worth around 3 billion euros to help families and firms
cope with sky-high electricity, gas and petrol costs.
    The new measures come on top of more than 30 billion euros
budgeted since January to soften the negative impact of surging
energy costs, which are weighing on the growth prospects of the
euro zone's third-largest economy.
    Italy last year got about 40% of its imported gas from
Russia and, like other EU nations, has begun efforts to
diversify its energy supply mix in the wake of Moscow's invasion
of Ukraine.
    
($1 = 0.9591 euros)

 (Reporting by Giuseppe Fonte, editing by Angelo Amante and
David Evans)
 ((gianluca.semeraro@tr.com; +39 06 80 307 741;))