Italy’s debate over energy security is once again confronting a difficult balance: keeping industrial production competitive while reshaping the country’s energy system and reducing reliance on Russian supplies.
The issue returned to the spotlight on 12 October 2026, when Emanuele Orsini, president of Confindustria, addressed the possibility of Russian natural gas returning to European markets. Speaking on the sidelines of the Assolombarda general assembly in Milan, he avoided taking a direct position on whether imports from Russia should resume. His message, however, was clear: energy policy should not be driven by ideology.
Orsini’s remarks were not a formal proposal to restore Russian gas purchases. They were a broader warning about the pressure energy costs place on manufacturers, particularly in sectors where gas and electricity are essential inputs. The distinction matters: the political debate may be reopening, but the European Union has already adopted a legal timetable to phase out Russian natural gas imports.

What Orsini actually said

Asked about the possibility of Russian gas returning to the market, Orsini said he did not intend to enter directly into the issue, stressing that it was not his responsibility to decide. He then argued that energy should be discussed without ideological barriers.
His concern was the competitiveness of European industry. He specifically mentioned ceramics, paper and glass, sectors exposed to substantial energy requirements and to the costs associated with the EU emissions trading system.
The underlying argument is that energy prices are not simply a matter of household bills or wholesale market movements. For manufacturers, they can influence production costs, investment decisions, operating margins and, ultimately, whether it remains economically viable to keep factories running in Italy.
That is why Confindustria has been pressing European institutions to reconsider the burden placed on energy-intensive industries.

The European ban on Russian gas changes the terms of the debate

Any discussion about a possible return to Russian supplies must start with the legislation already in force.
On 26 January 2026, the EU adopted Regulation 2026/261, establishing a gradual phase-out of Russian natural gas imports, covering both pipeline gas and liquefied natural gas (LNG). The regulation entered into force in February and introduced a series of deadlines depending on the type of supply contract.
For short-term contracts, the ban on Russian LNG began on 25 April 2026. The corresponding prohibition for pipeline gas started on 17 June 2026.
Long-term contracts follow a later timetable. Russian LNG imports under those contracts are due to be prohibited from 1 January 2027. For pipeline gas, the deadline is 30 September 2027, with a possible extension to 1 November 2027 if the EU’s storage targets for the winter are not met.
The regulation also strengthens monitoring and traceability requirements, making it harder for Russian gas to enter the European market through indirect commercial arrangements.
This legal framework is crucial. Italy cannot simply decide on its own to restore Russian gas imports without taking account of EU rules. A major change in policy would require a European-level response and would have to address the legal obligations already approved by member states.
Orsini’s comments should therefore be understood as part of a wider debate on energy policy, not as evidence that a return to Russian gas is imminent.

Why natural gas remains part of the energy transition

The discussion also highlights a wider question: what role should natural gas play as Europe expands renewable energy?
Wind and solar power are essential to the transition, but their output varies with weather conditions and time of day. Electricity systems therefore need flexibility, storage, grid capacity and sources that can help balance supply when renewable generation falls short.
Natural gas-fired power plants have often provided part of that flexibility. They can support the system when demand is high or when renewable output is insufficient, although their use must be assessed against climate targets and the availability of lower-carbon alternatives.
Orsini described gas as a buffer that will continue to be needed alongside renewable sources. He also referred to the importance of a diversified energy mix and reiterated Confindustria’s support for nuclear research and development.
The debate is not simply about choosing between fossil fuels and renewables. It is about how quickly the energy system can change, which technologies can provide reliable supply, and how the transition can be financed without undermining industrial production.

Italy’s supply routes have changed

Italy has spent recent years diversifying its natural gas supply sources. The country now relies on a combination of pipeline imports, LNG deliveries and domestic production.
Among the relevant supply partners are Algeria, Azerbaijan, Qatar, the United States and Norway, alongside other international sources. LNG has become increasingly important because it can be transported by ship and delivered through regasification terminals connected to the national network.
Snam’s 2025 annual report illustrates this shift. Gas injected into the Italian network from entry points connected to LNG regasification terminals reached 20.48 billion cubic metres in 2025, up 39.7% from the previous year.
At the same time, entries through interconnections with foreign pipeline networks totalled 40.41 billion cubic metres, a 9% decline compared with 2024. Snam reported a particularly sharp reduction in flows through Tarvisio, reflecting the fall in Russian gas supplies.
These figures underline the strategic importance of infrastructure. Regasification capacity, storage facilities and pipeline connections help Italy access a wider range of suppliers and respond to changes in the international market.
Diversification, however, does not automatically mean cheaper gas. LNG prices are influenced by global demand, shipping costs, competition between importing regions and the availability of cargoes. Pipeline supplies are also affected by contract terms, infrastructure constraints and geopolitical developments.
The country may have more options than it did before the energy crisis, but it remains exposed to international market conditions.

The industrial cost problem

For energy-intensive businesses, the price of energy can be a decisive factor in international competition.
Ceramics, glass and paper production require substantial amounts of energy. Industrial furnaces, drying processes and other continuous operations cannot always be easily interrupted or shifted to periods when electricity is cheaper.
When energy prices rise, manufacturers face difficult choices. They can absorb the increase through lower margins, pass part of the cost on to customers, reduce output or postpone investment.
Each option has consequences. Higher prices can weaken demand, lower margins can reduce the resources available for innovation, and production cuts can affect employment and supply chains.
This is the context behind Confindustria’s warning. The association argues that European industry needs energy conditions that allow it to compete with producers operating in regions where costs may be lower.
The issue is particularly sensitive for Italy, where manufacturing remains an important part of the economy and where many companies operate in highly competitive international markets.

The ETS dispute: climate policy and industrial competitiveness

Orsini also called for the suspension of the EU Emissions Trading System, commonly known as the ETS.
The mechanism is a central element of European climate policy. It sets a declining cap on emissions from covered sectors and requires companies to surrender allowances corresponding to the greenhouse gases they release.
Allowances can be traded. Companies that need more permits than they receive for free must obtain additional ones on the market. The resulting carbon cost is intended to encourage investment in cleaner technologies and lower-emission production.
The system has also become a point of tension between climate objectives and industrial competitiveness.
Orsini argued that the ETS is putting significant pressure on sectors such as ceramics, paper and glass. Confindustria’s position is that European industry must be protected from excessive costs that could make production less competitive or encourage companies to move operations outside the EU.
However, his request for a suspension should not be confused with an actual suspension of the system. The ETS remains part of EU law. European institutions have been discussing adjustments and targeted support for exposed sectors, but the mechanism has not been cancelled as a result of the October statements.
The challenge for policymakers is to preserve the incentive to reduce emissions while preventing the transition from creating an uneven playing field for European manufacturers.

Would Russian gas make energy cheaper?

The possibility of renewed Russian supplies raises an obvious question: would more gas from Russia bring down prices for Italian households and businesses?
There is no automatic answer.
An increase in available supply can ease market pressure under certain conditions, but the final price depends on contract terms, transport costs, infrastructure, demand, storage levels and international benchmarks.
The geopolitical context also matters. The war in Ukraine and the sanctions adopted by Western countries have fundamentally changed energy relations between Russia and Europe.
Restoring a supply relationship would therefore involve more than a commercial calculation. It would raise questions about legal commitments, political coordination, long-term reliability and the risk of becoming dependent on a single supplier again.
A lower headline purchase price would not, by itself, prove that the overall arrangement was economically or strategically advantageous.
The relevant comparison would have to consider the full cost of supply, the reliability of deliveries, the legal framework and the consequences for Europe’s energy security.

Orsini also wants investment incentives to continue

Energy was not the only issue raised by the Confindustria president at the Assolombarda assembly.
Orsini also spoke in favour of continuing investment incentives, highlighting the positive response to the 2026 hyper-depreciation scheme.
According to figures he cited, requests had exceeded €7 billion during the first months, compared with a government allocation of €2.5 billion.
Those figures need to be read carefully. They refer to requests and declared investment demand, not to money already spent or to an equivalent amount of completed projects.
The 2026 measure was designed to encourage businesses to renew equipment and adopt advanced technologies. It provides a tax incentive through an increase in the cost base eligible for depreciation, subject to specific requirements and investment thresholds.
For Confindustria, the point is that industrial competitiveness depends not only on energy prices but also on the ability to modernise production, adopt digital technologies and improve efficiency.
Energy policy and investment policy are therefore closely connected: companies need affordable and reliable power, but they also need the resources and incentives to upgrade their facilities.

The real challenge is a stable energy strategy

Orsini’s intervention has brought the Russian gas debate back into the headlines, but the broader issue is much larger than the possibility of restoring one supply route.
Italy must balance several priorities: secure imports, competitive prices, infrastructure investment, renewable generation, storage, technological innovation and compliance with European climate and energy rules.
A diversified system can reduce exposure to individual suppliers. Renewable energy can lower dependence on imported fossil fuels over time. Flexible generation, storage and stronger networks can help maintain reliability. Industrial support can make the transition more manageable for companies exposed to international competition.
None of these measures offers an immediate solution on its own.
The central question raised by Orsini is whether Europe can pursue its energy and climate objectives while preserving the industrial capacity needed to sustain jobs, investment and economic growth.
His remarks did not amount to a formal proposal to reopen Russian gas imports. They did, however, highlight the growing pressure on European industry and the need for a realistic discussion about energy costs.
The outcome will depend on decisions taken at both national and European level. For Italy, the priority is to secure a reliable energy system that supports businesses and households without creating new strategic dependencies or abandoning the long-term transition.

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