EU and U. S. want rapid solution in Libya, says Eni CEO

(AGI) Milan, June 9 - Claudio Descalzi, CEO of Italian oil andgas giant Eni, addressed an Italian Institute for InternationalPolitical Studies (ISPI) conference entitled "Energy: achanging world" in Milan on Monday, asking for a rapid solutionin Libya. "Libya is experiencing a period of great mediaattention: the U.S. and Europe are very interested in Libya.There is not just an internal struggle, but there are alsoworrying terrorist factors. There is a need for everyone tofind a solution very quickly," he said. "I don't think militaryintervention is possible. We have already seen what happened

(AGI) Milan, June 9 - Claudio Descalzi, CEO of Italian oil andgas giant Eni, addressed an Italian Institute for InternationalPolitical Studies (ISPI) conference entitled "Energy: achanging world" in Milan on Monday, asking for a rapid solutionin Libya. "Libya is experiencing a period of great mediaattention: the U.S. and Europe are very interested in Libya.There is not just an internal struggle, but there are alsoworrying terrorist factors. There is a need for everyone tofind a solution very quickly," he said. "I don't think militaryintervention is possible. We have already seen what happened inthe past." Then, turning to Russia, he explained, "If thesituation were to really turn more extreme than now, we needalternatives for energy security." However, he added, "I do notthink we can do without Russia in terms of trade for the nextfive to six years. It is also true that Russia cannot dowithout the European market," a "key" market for the country.In anticipation of the arrival of Russian President VladimirPutin on the country's National Day on Friday, Mr Descalzi saidhe did not know yet whether he would meet him, but thought so. Speaking about oil prices Mr Descalzi said that "the lowprices of today are very good", but "with low prices allcompanies have abruptly cut projects and investments." Heexplained that this would lead to a future energy gap and muchhigher prices. "Fluctuations are very bad for health of bothconsumers and operators." Mr Descalzi then expressed doubtsabout the scope for shale gas in Europe. In Poland, forexample, "We all went in together and we left together." Theproblem, explained Mr Descalzi, is that "we have little spacein Europe, the environmental conditions are unfavourable",whereas "large spaces are needed for a very invasivetechnique". "Africa is rich in raw materials and has a bigappetite for energy," and this is why "Europe and Italy must beable to invest in Africa," said the CEO. Africa represents 13%of the world population and 3 percent of global powerconsumption. This is why Italy, which has to diversify itssources and alternatives, should focus on "the Mediterranean,North Africa and Sub-Saharan Africa, where there are largequantities of oil and gas", as well as being "areas in greatdevelopment", Mr Descalzi concluded (AGI) . .