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Gas, Italy heading for a quiet winter: record stocks and prices at record lows

MILAN – Mayor Gualtieri he signed the order which has established the beginning of the wine season for November 15 (instead of the first day of the month). heating for Rome. The “warm” season already began in mid-October in other areas of Italy, such as Milan, even if the increasingly unpredictable thermometer forced boilers and radiators to be turned off.

The truth is, in the midst of these times (Here are the dates when the heating was turned on) the hottest season for gas consumption has begun. And Italy, which two years ago was debating austerity plans to cope with the energy crisis linked to Russia’s attack on Ukraine, is entering winter with level of gas stock equal to 98.5% of its capacity.

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Here’s what Snam communicates in a note: the filling level of Italian storage, achieved at the end of the gas injection campaign that ended on October 31.

A campaign that arrived at a favorable time for raw material prices, pushed down precisely by the mild temperatures that limited demand in the autumn and – in an intended key – by the the next contract with Azerbaijan for an important supply instead of the Russian one: factors that drove the price per megawatt houron the Amsterdam reference market, at three-month lows in the region of 38 euros.

This, explains the note, 18.7 billion cubic meters of gas, divided between 13.9 billion cubic meters of modulation storage – a new record, after 13.6 billion last year – and 4.8 billion cubic meters of strategic storage , compared to an average storage fill rate in Europe of around 95%. The figure considers both the 17.4 billion cubic meters of storage owned by Stogit, 100% controlled by Snam, and the stock of other operators.

“The conclusion of the injection campaign allows us to look forward to the winter season with confidence, despite a situation of stability and uncertainty that characterizes the world markets”, said Snam CEO Stefano Venier.

2024-11-02 19:18:00
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