According to Claudio Descalzi, why might the global energy crisis worsen in the short term?

Descalzi stated that the energy crisis may worsen in the short term due to declining oil inventories and intensifying competition for energy supplies, particularly as Europe seeks to rebuild gas storage before winter.

What specific LNG volume does Europe need to reach its winter storage target, and what is Italy’s current stockpile level?

Descalzi said Europe needs to buy about 35 billion cubic meters of LNG to reach its 80% gas storage target before winter, and noted that Italy’s gas stockpiles are already at about 70% of capacity — ahead of other European countries.

Eni’s Descalzi Says Energy Crisis May Worsen in Short Term

Jul 11, 2026

Eni CEO Claudio Descalzi warned the global energy crisis could worsen due to shrinking inventories and supply competition. He urged Europe to diversify energy sources while investing in hydrocarbons and renewables to secure supplies before winter.

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Eni’s Descalzi Says Energy Crisis May Worsen in Short Term

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