Eni says gas OK despite Libyan unrest

Feb. 23, 2011 at 7:01 AM
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ROME, Feb. 23 (UPI) -- Italian energy company Eni suspended some natural gas operations in Libya but said there was "plenty" of gas on the market to allay concerns.

Global financial markets plummeted Tuesday in part because of concerns over the political stability in the Middle East and North Africa. Unrest in Libya, Africa's largest oil producer, sent oil and gasoline prices skyrocketing.

Several oil and gas companies announced this week they pulled most of their staff out of Libya as the protests turned more violent. Eni announced that it suspended its work in Libya, including at the Greenstream natural gas pipeline, Italian news agency Adnkronos International reports.

Greenstream transports about 280 billion cubic feet of gas each year, meeting about 10 percent of Italy's natural gas needs.

Eni spokesman Gianni Di Giovanni was quoted by AKI as saying there was "plenty" of natural gas on the market, however.

Eni said it stepped up security at its facilities in Libya and pulled most of its staff out of the country. None of its production plants were damaged by the unrest, the company added.

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