Venier, Snam: gas storage at 95%, there is flexibility in a harsh winter

Snam’s CEO speaks to Sky Tg24: the gas storage target has been reached (and it was not taken for granted) for the upcoming winter, the next one will be more complicated because the Russian methane will also be lacking , which has now fallen to less than 10% of our imports. Therefore the Piombino regasification plant is essential (watch the video)

“In the event of cold peaks during the winter we have enough flexibility to tap into the stored gas”: so Stefano Venier, CEO of Snam, interviewed by Sky TG24 takes stock of stocks for the winter. What is coming, but also the next one, 2023-24, “will be more complex” because to replenish stocks (“which we use mainly in January and February”) we will have to do without Russian gas.

Current storage, Venier emphasizes, covers between 25% and 30% of our country’s annual needs, which “under normal conditions is 40 billion cubic meters per year”. Then there are about 4.5 billion cubic meters of ‘strategic reserves’, which can be used when necessary but it takes more time to get it out of the bottom of the stockpiles.

After that, despite a reassuring framework, Venier cannot at the moment completely exclude the possibility of a partial rationing for industrial uses, should the availability situation worsen; but it is a scenario that is still unfolding, explains the CEO of Snam, and it will also be necessary to understand what the price level will be at the beginning of 2023, a period in which inventories will begin to be replenished for next year.