Iran, Meloni sees Eni and Snam: focus on energy security and mitigation actions
Security summit with ministers and energy risk with Eni and Snam to address tensions in the Middle East
Key points
Double meeting at Palazzo Chigi. After the escalation of tension in Iran and the Middle East, Prime Minister Giorgia Meloni chaired two government summits. Two central themes: security and energy.
First Security Summit
The first meeting was attended by Vice-President and Foreign Minister Antonio Tajani, Defence Minister Guido Crosetto, Minister of the Environment and Energy Security Gilberto Pichetto Fratin, and the Undersecretaries to the Presidency of the Council Alfredo Mantovano and Giovanbattista Fazzolari.
'The meeting,' Palazzo Chigi announced, 'focused on the latest developments in the crisis, with particular attention to measures to assist and guarantee the safety of Italian citizens present in the areas involved, reaffirming the executive's utmost commitment'
The point with Eni and Snam
The second meeting, which was joined by the CEOs of Eni Claudio Descalzi and Snam Agostino Scornajenchi, also addressed 'the issue of energy security, with an analysis of the current and potential impact of hostilities on energy markets and the economy, as well as possible mitigation actions that the government could take in the short and medium term'.
The Consequences of the Blockade of the Strait of Hormuz
The consequences, in particular those of the blockade of the Strait of Hormuz, can already be seen. The Brent future for May is moving at 83 dollars per barrel, while the Wti is above 66 dollars. Some traders have raised their forecast on the Brent price and see prices rising to $120-150 in an extreme scenario of a prolonged conflict.
