Italy boosts LNG imports to offset gas shortage

Friday, February 10, 2012

Italy, which relies on gas imports to cover about 90 percent of its needs, has boosted liquefied natural gas (LNG) imports from Spain and Algeria as part of emergency measures introduced earlier this week to offset major cuts in supplies from Russia.

Italy was hardest hit after Russian pipeline export monopoly Gazprom diverted some supplies destined for Europe last week as its domestic consumption soared. Russian gas flows to Europe have since increased, but they have not been fully restored.

The country's demand for imported gas was set to reach record levels on Friday as gas flows via Austria and France increased, Bentek Energy data showed.

Italy expects to import 289 million cubic meters per day, according to nominations seen by Bentek.

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