Snam: gas storage levels exceed 95% as injection campaign comes to an end
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Snam: gas storage levels exceed 95% as injection campaign comes to an end

  • The gas available to the system in Stogit storage facilities amounts to 11.2 billion cubic metres, in addition to the 4.5 billion cubic metres in the strategic reserve
  • For the first time, sector operators will be able to continue to deliver gas during the withdrawal season using the counter-flow service
 

San Donato Milanese (MI) - November 2 nd, 2022 - Snam announces that at the end of the injection campaign completed on October 31 st, the level of gas stocks managed by Stogit (a wholly-owned subsidiary of Snam) reached 95.2%, for a total of 11.2 billion cubic metres of natural gas, in addition to the 4.5 billion cubic metres of strategic reserves. The national energy system will also have access to an additional 1.1 billion cubic metres held in the storage facilities of other operators.

"This result is essential for the coming winter, and was certainly not conceivable even last July, when the 90% target seemed a very challenging proposition in itself," remarked Stefano Venier, CEO of Snam. "This achievement was possible thanks to a 'systemic' response" actively involving the various components of government and ARERA, as well as the main industry operators and Snam. On this front, from today the focus is already on optimising winter supplies and creating the conditions, including with the support of FSRUs, for next summer's campaign, when it will also be necessary to replace the some 2 billion cubic metres of Russian gas stored this year".

The supply of gas from storage will take place in the coming months on the basis of the guidelines soon to be issued by the Ministry of the Environment and Energy Security using transparent auction mechanisms.

Starting from November 1 st, Stogit has also activated a new "counter-flow" injection service to enable operators to deliver the gas available in the fields operated by the company in November and December as well, during the withdrawal season. This gas can be supplied to the system in January, February and March 2023. Thanks to this mechanism, established for the first time ever, it will be possible to preserve gas in the fields for the winter period of peak demand, guaranteeing better peak withdrawal performance on colder days.

More information here .

As part of the injection campaign, between April and October Snam contributed 1.3 billion cubic metres to filling storage facilities, with the addition of a further 740 million cubic metres that will be used for transport and storage services, while the GSE injected 1.6 billion cubic metres, benefitting from the financial resources made available by ARERA and the Ministry for the Economy.

Exceeding the 95% storage level is an increase of 5% on the average of European storage in the last 5 years and it represents a significant achievement in view of the upcoming winter period, considering that storage will thus be able to meet about 25% -30% of daily demand in January.

The efforts undertaken in recent months by all the parties involved have made it possible - also using the last resort service set up for the first time last June by the Ministry for the Ecological Transition and ARERA - to recoup a gap of at least 3 billion cubic metres, offsetting the lack of deliveries from numerous participants present in previous years, and to exceed the initial 90% target by about 5 percentage points, or 800 million cubic metres, thanks in part to the mild weather recorded in recent weeks, which has significantly reduced domestic consumption.

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updated
03 November 2022 - 15:03 CET