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Free AccessItaly Requires Increased LNG Import Capacity: Eni
Italy needs to significantly increase LNG import capacity according to the Eni chief executive Claudio Descalzi yesterday. He said ideally Italy requires four new LNG terminals.
- Italy currently has three terminals with a combined capacity of around 17bcm with another two FSRU planned to increase the capacity to 27bcm.
- "We have moved from Russian gas coming from pipelines to gas coming on ships. We currently don't have enough LNG terminals... we would need four additional terminals," Descalzi said. "Next year, I can expect Russian gas be around 6-7 per cent... if it will be there."
- Italy has increased gas supplies from Algeria, Egypt and the Middle East while Russian flows have fallen from around 38% of total consumption to around 10%.
- The change in supplies highlights the need to strengthen energy infrastructure in the south, eliminate bottlenecks in the gas grid and enlarge its storage system, he said. Gas grid operator Snam recently announced plans to invest more than €3bn to boost the gas network and to add new storage sites.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.