ECONOMY

ENI monitoring Greece situation, not worried for now

Italian oil and gas major ENI is monitoring the situation about gas payments in Greece but currently does not see reasons for being particularly worried, its head said on Friday.

“The quantity of gas that we sell is limited and we have to distribution companies in Greece. We are monitoring the situation but I don’t see anything particularly worrying for now,» chief executive Paolo Scaroni told Reuters on the sidelines of a conference of Italy young entrepreneurs.

Greece’s state-owned gas provider DEPA is in talks with domestic banks to secure a loan to pay for its imports, a company official said on Friday, as the austerity-hit country seeks to avoid a collapse of its electrical power network.

State-controlled DEPA does not have enough cash to pay about 120 million euros ($151 million) due later this month on contracts with suppliers such as Russia’s Gazprom. [Reuters]