Italy's industry ministry has ruled strategic gas storage volumes in the country for storage year 2017-2018 should remain unchanged year on year at 4.62 billion cubic meters, or around 48,846 GWh.
The storage year runs from April 1 2017 to March 31 2018.
“Current capacity of existing storage infrastructure is considered appropriate to guarantee adequate security margins in order to supply gas to distribution customers for the peak winter period” the ministry said, adding this was even in the case of temporary cold spells with temperatures falling to levels “exceptionally lower than those registered in the last twenty years” or in the case of “an interruption of at least thirty days” in flows through the main import channels.
The ministry added that in its decision, it had kept into account the levels of storage withdrawal the previous year and the fact there had been a number of emergency situations in recent years which had affected gas imports to Italy, including during the Russia-Ukraine crisis in January 2009, the interruption in Libyan gas flows for half of the year in 2011, the cold snap affecting Europe in February 2012, the Libyan crisis in 2013 and 2014 and issues with Algerian gas deliveries in January 2014.
It also noted the fact in recent years, a balancing market had been established in Italy, in order to maximise storage withdrawals during peak times.