Russia has closed the gas taps to Italy: supplies from Tarvisio have been at zero for several days now. It is not yet clear when and if they will be restored. Eni hopes they can resume within the next week. The six-legged dog company in talks with Russian energy group Gazprom and Gas Connect Austria to explore potential options to unlock Russian supplies arriving in Italy via Austria. In fact, the company would pay the Austrian transporter on behalf of the Russian giant, an operation which obviously requires the adhesion of all the parties involved. Eni is ready to pay € 20 million in guarantees to get gas through the Tarvisio junction.
Storage at 90%
At the moment the European and Italian storages are full: the level of gas reserves in European underground deposits is close to 87%, in Italy it has been exceeded 90%. This means that we have the gas to keep us warm this winter. Having said that, we must take into account the variables that could complicate the situation: a sudden cold wave, interruptions in supplies from other countries, supplies of LNG lower than those announced. Variables that led Eni’s CEO to say: You can close borders, but you can’t, and you can be more deterministic in positivity. The additional contribution of Russian gas, which we hope will make a fundamental return, 20 million cubic meters per day, which is between 9-10% of the supply that is arriving in Italy. It is important that the regasifiers work, it is important that there are no technical problems with production in Algeria or Egypt or interruptions from Libya.
How much gas we consume and where it comes from
Gas from Russia now accounts for only 9% of EU supplies, before the war in Ukraine it covered 40%. Italy consumes between 73 and 76 billion cubic meters per year, according to data from the Ministry of Economic Development of 2018-2021. With the gradual reduction of supplies from Moscow, Norway has become the first supplier to the EU. For Italy, the first supplier is Algeria, which will guarantee approximately 3 billion cubic meters of gas more to our country in the winter of 2022, that is to say a total of about 25 billion cubic meters per year. In 2023-2024, supplies will increase to an additional 6.2 billion, and then stabilize at an additional 9 billion, reaching a total of about 30 billion cubic meters. The TAP, Trans Adriatic Pipeline, European section of the Mediterranean corridor that carries gas from Azerbaijan to Puglia, has already transported 16 billion cubic meters of gas, of which 14 to Italy, explained Luca Schieppati in recent days, managing director of Tap, speaking at the Italian Energy Summit. With the volumes we are transporting to Italy this year we will bring more than 9.5 billion cubic meters, 2.5 more than last year. We are looking to further increase the volumes, the president of Azerbaijan said that next year we will rise to 12 billion cubic meters, he added.
The node of the regasifiers
To reduce dependence on Moscow, the Italian government has also decided to focus on liquefied natural gas (LNG). From next spring, additional supplies will start arriving from countries such as the United States, Qatar, Congo and Nigeria. Italy currently has a regasification capacity of 18 billion cubic meters. LNG accounts for 20% of total imports and is regasified in the current three plants in Livorno, Panigaglia (La Spezia) and Porto Viro (Rovigo).On 2022 we should have an additional of about 9.7-10 billion cubic meters, by 2023-2024 we should have an additional 17 billion and in 2024-2025 we will reach 21-22 billion cubic meters, explained the Minister of Transition. ecological, Roberto Cingolani. To achieve these objectives, it is urgent to increase regasification capacity quickly, making the two FSRU ships purchased from Snam come into operation as soon as possible. If the authorization for the Piombino regasification plant arrives on October 27 (expected date, on paper), the gas would begin to flow from the end of April, as Federico Fubini explained on Corriere della Sera. If, on the other hand, everything were to be blocked by the appeals, the Golar Tundra will not be able to work even in the summer of 2023. The risk that next winter the situation will be much more complex than it already is.