Gas: imports from Russia in free fall while that of LNG by ship jumps
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Decline in consumption, imports from Russia in free fall but always present, the importance of regasification terminals and a decline in national production. The first quarter of the year can be summarized thus gas in Italy. According to data from the Ministry of the Environment and Energy Security, in the first 3 months of 2023 gas consumption in Italy amounted to 20.5 billion cubic metres: 19.4% less than in the same period of 2022. The month of March alone saw a drop of 26.2%, which adds up to the drop of 8.5% recorded in February and that of 22.4% in January.
Consumption drop
“It is a somewhat surprising drop. We knew that there was a reduction in household consumption. Now this contraction is also becoming evident in large industry: there is a decline in production. A trend confirmed by electricity consumption, which has decreased. While the turnover does not show this contraction: it is because they are selling less, but at higher prices», comments Davide Tabarellipresident of Nomisma Energia.
In March, according to data from Terna, the company that manages the national transmission grid, Italy consumed 26.2 billion kWh, a value down by 5% compared to the same month in 2022. a negative change of 0.9% compared to March 2022 for the industrial sector, which in February had seen consumption fall by 6.8%. The trend change in March 2023 was negative everywhere: -5.3% in the North, -5.2% in the Center and -4.4% in the South and on the islands.
Russian gas decreased by 73.6%
As regards the flows of gas arriving in Italy, the decrease in the Russian raw material passing through the pass is confirmed Tarvisio. In the first 3 months, the drop is 73.6% compared to 2022, to 1.4 billion cubic meters. A quantity that distances the Russia from the podium of the major countries that supply Italy, overtaken by Algeria despite the decline of 11% (4.9 billion in the quarter), by Azerbaijan via Tap (2.4), by Holland and Norway via the Gries pass (2.3), from the LNG arriving at the Cavarzere regasification terminal in Rovigo (2.1). “The Russian flow, minimal though it is, hasn’t stopped yet. And if prices rise again, volumes will also grow», observes Tabarelli.
LNG arrives
The LNG that arrives by ship to the regasification terminals is growing: in March the exploit of Panigaglia, near La Spezia, was recorded, where 349 million arrived against only 23 in 2022. In the quarter, growth was 590% with 894 million cubic metres: «It’s Eni’s LNG that arrives from Egypt in small loads: it represents a diversification. We must not forget that the construction of the regasification terminals is one of the reasons, together with the drop in demand linked to the mild climate, for the drop in gas prices (today at the TTF in Amsterdam at 36 euros per MWh). And the Piombino plant is also going in this direction with a capacity of 4.5 billion cubic metres», recalls the president of Nomisma Energy. There too, the first shipment arriving, from Eni, comes from Egypt.
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