The Italian Ministry for Ecological Transition (MITE) has published the monthly balance of natural gas, which highlights an increase in gas inflows from Algeria, Azerbaijan and the Nordic countries in July. This can be read in today’s Mediobanca Securities report, which reports a monthly national gas consumption of 4.4 billion cubic meters (-3.2% yoy).
Gas imports from Russia (via the Tarvisio entry point) decreased by 48.5% yoy to 1.3 billion cubic meters. In the first seven months of 2022, natural gas supplies from Russia fell by 38.2%. At the same time, Mediobanca analysts report, gas imports from the Nordic countries from Passo Gries have increased more than 70 times to 1.4 billion cubic meters. Since the beginning of the year, natural gas supplies from Passo Gries have increased by 3.5 times to 5.2 billion cubic meters.
In particular, the investment bank reports, natural gas flows from Algeria increased by 4.2% in July to 1.7 billion cubic meters (+ 3.3% from the beginning of the year). LNG imports in Livorno nearly quadrupled to 0.4 billion cubic meters; Rovigo is up by 6.4% to 0.7 billion cubic meters while Panigaglia is at 0.3 billion cubic meters. At the same time, national production recorded an increase (+ 2.7% yoy) to 0.3 billion cubic meters in July. In the first seven months of 2022, Mediobanca concludes, national production reached 1.9 billion cubic meters, a drop of 0.7%.