Baku, Azerbaijan, May 16

By Leman Zeynalova – Trend:

Italy’s Snam company has reduced natural gas storage by 7.7 percent in the first quarter of 2019, as compared to the same period in 2018, Trend reports with reference to the company.

“During the first quarter of 2019, 6.23 billion cubic metres of natural gas were moved through the storage system, a reduction of 0.52 billion cubic metres (7.7 percent) compared with the first quarter of 2018 (6.75 billion cubic metres),” reads the report.

Snam said that the reduction was mainly attributable to lower withdrawals from storage (-0.56 billion cubic metres; -8.4 percent), primarily due to weather conditions.

“The total storage capacity as at 31 March 2019, including strategic storage, was 16.9 billion cubic metres (+0.2 billion cubic metres on 31 March 2018), almost entirely conferred for the 2018-2019 thermal year (99.7 percent of available capacity) and 4.5 billion cubic metres related to strategic storage (unchanged compared with the 2017-2018 thermal year),” said the report.

During the first quarter 2019, at the liquefied natural gas (LNG) terminal of Panigaglia, 0.60 billion cubic metres of LNG were regasified (0.04 during the first quarter 2018) and 14 discharges from methane tanker loads took place (1 in the first quarter of 2018), also thanks to the new auction-based capacity allocation mechanisms, said the Italian company.

Snam is Europe’s leading gas utility. It has been building and managing sustainable and technologically advanced infrastructure guaranteeing energy security for over 75 years. Snam operates in Italy and, through subsidiaries, Austria (TAG and GCA), France (Teréga) and the United Kingdom (Interconnector UK). It is one of the main shareholders of TAP (Trans Adriatic Pipeline) and is the company most involved in projects for the creation of the Energy Union.

Since 2001 Snam is a public company, listed in the FTSE MIB index of the Italian Stock Exchange.

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