Algerian gas flow surge to Italy eats into northern imports

Multiple market sources said they expect the amount of gas coming from north Europe via Switzerland into Italy to be lower for the rest of 2017 compared to 2016, if gas coming from Algeria remains high.

Algerian gas imports to Italy surged between the end of 2016 and the beginning of 2017 following a renegotiation of long-term contracts between Italian company Eni and Algerian producer Sonatrach, which revised volumes and prices, to bring them in line with the current market conditions.

ICIS looks at the impact of the high Algerian imports on the Italian market and its impact on the Italian PSV-Dutch TTF price spread.

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