Libyan natural gas flows to Italy remain low on Greenstream pipeline outage: sources

January 13, 2018

Libyan gas exports to Italy were still below average Friday after gas pumping rates at Libya's Greenstream pipeline to Italy plummeted Thursday, sources close to the matter said.

* Russian imports, storage withdrawals cover

* No impact on prices due to limited changes

* PSV up in Friday trade on colder temperatures

'Libyan flows are still below average today but the system is balanced with more Russian gas and storage withdrawal,' a trader said.

Snam figures showed gas supply from Libya via Gela was nominated at 5 million cu m Friday, down 9 million cu m from Thursday's day-ahead nominations. Supply from Russia via Tarvisio was nominated at 51 million cu m, with storage withdrawals nominated at 99 million cu m.

'It's not a huge change on the day; I don't think it had a real impact on the market,' another trader said.

Libyan gas exports to Italy via Gela were down 8.6 million cu m at 4 million cu m Thursday, a level not seen since August 26, data from S&P Global Platts Analytics showed Friday.

Russian gas exports to Italy through Austria increased to 43 million cu m Thursday, while storage withdrawals stood at 104 million cu m, up 13 million cu m on the day.

At 12:00 pm London Time Friday, the PSV day-ahead contract was trading at Eur21.1/MWh, up 50 euro cents from the previous assessment. Sources said colder temperature forecasts in Italy were adding to the upward pressure on spot prices.