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Europe’s Gas Outlook Still Fragile: Snam CEO

NATGAS

Europe’s gas outlook remains fragile due to constrained global LNG capacity, rising Asian LNG demand and ongoing geopolitical tensions, Snam CEO Stefano Venier told Montel.

  • “We haven't seen clear implications from the Middle East crisis in the short term. “This situation might delay certain investment decisions in that area and in the future could play a significant role in the balancing, especially of Europe”, Venier said.
  • Italy will focus on long-term LNG supply agreements in the coming years rather than focussing on spot procurement, Venier said.
  • Italian natural gas demand will be similar or slightly above 2023 levels of 63bcm. Demand is expected to drop to 58bcm in 2030 and to 45-50bcm by 2040.
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