Europe is well-positioned to manage without Russian gas supplied via transit through Ukraine, according to Claudio Descalzi, the head of Italian energy giant ENI.

According to Report, which cites Interfax, in a recent statement, Descalzi expressed confidence in Europe’s ability to navigate the potential absence of this key gas supply route.

“I believe that Europe is in good shape, thanks to the established gas reserves, which exceed 90%, and the availability of supplies from the United States, Qatar, and North Africa,” Descalzi remarked. He also noted the significant influx of liquefied natural gas (LNG) from Russia into Europe.

The ENI chief refrained from commenting on the possibility of gas supplies from Azerbaijan to Europe via Ukrainian territory. The current contract for Russian gas transit through Ukraine is set to expire at the end of 2024, and Ukraine has indicated its intention not to renew the agreement.