Italy is preparing to face the winter with gas reserves reaching 98.5% of total capacity. This figure was communicated by Snam at the end of the injection campaign, which ended on October 31. In concrete terms, this corresponds to 18.7 billion cubic meters of gas, divided between 13.9 billion cubic meters of modulation storage - a new record compared to 13.6 billion the previous year - and 4.8 billion cubic meters allocated to strategic storage. At European level, the average filling of storage stands at around 95%. The figures include the 17.4 billion cubic meters managed by Stogit, a wholly-owned subsidiary of Snam, in addition to the reserves of other operators.

Snam CEO Stefano Venier said that the end of the injection campaign offers a positive outlook for the winter season, despite the uncertainties and fluctuations of global markets. Venier highlighted how this result is the fruit of a collective effort that involved government and regulatory actors such as Arera, in addition to the main operators in the sector.

Snam highlights that current stocks significantly exceed the 90% target established by European and national regulations. Storage is able to cover approximately 25%-30% of daily demand in the coldest periods. This result was also possible thanks to the strategies adopted during the previous thermal year to ensure gas conservation during the winter. Among these initiatives was the offer of counterflow services, which will allow Snam to start the summer campaign for the replenishment of stocks in April 2024 with an initial level of around 60%.

During the next supply campaign, Snam will continue to commit to offering services aimed at supporting market operators in maintaining stocks during the critical periods of winter consumption. These services will include both the counterflow and the management of residual stocks, ensuring an adequate response to the needs of the Italian energy market.