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Algeria agrees to boost annual piped gas sales to Italy by up to 9 billion cubic metres | Upstream Online - 12 April 2022 |

As Italy weans itself off Russian gas, Eni and Sonatrach plan to boost throughput in the TransMed pipeline

Algeria's President Abdelmadjid Tebboune and Italy's Prime Minister Mario Draghi have witnessed the signing of a significant deal that is expected to see gas supplied from North Africa to Europe.

Europe is scouting the globe hunting for additional sources of gas to eventually replace the 180 billion cubic metres the continent imports from Russia.

Some 40% of Italy's gas demand is currently met by Russian supplies.

Eni and Snam Partner on Gas Pipelines Between Algeria and Italy | Energy Monitor - Dec. 6, 2021|

'Sapere aude'

by Oui (Oui) on Wed Sep 28th, 2022 at 06:58:02 PM EST
Great Merchants the Italians Under Meloni

Gas, crolla il prezzo in Italia: costa un terzo rispetto all'Europa. E ora lo esportiamo | il Repubblico |

It can be clearly seen from the prices: the Ttf index, listed on the Amsterdam Stock Exchange and a reference point for trading in Europe, on Monday reached a peak of 220 euros per megawatt hour, while in Italy the values ​​at PSV (virtual trading point) which serves as a reference for the Italian market has reached a minimum peak of 80 euros. Basically, operators had much more interest in selling in the rest of Europe than in keeping the gas or selling it in Italy.

The stockpiles (the filling of which had caused the price to rise) are now 90% full and can be used in case of need, calming the market. Two-thirds of Russian gas was replaced by Algerian gas, gas arriving by ship and alternative suppliers such as Norway and Azerbaijan (TAP will rise to 9.5 billion cubic meters at the end of the year against 7.5 of 2021).

'Sapere aude'
by Oui (Oui) on Wed Sep 28th, 2022 at 07:20:25 PM EST
[ Parent ]
Has Granpa Draghi.gov establihed a "excess profits" tax?
by Cat on Wed Sep 28th, 2022 at 08:27:42 PM EST
[ Parent ]