Exports of Algerian gas to Italy averaged 22.6mn m³/day for April (800mn cfd), twice 4Q 2014 levels. Volumes are set to keep increasing this summer, as the impact of lower crude prices gradually filters through oil-indexed long-term supply contracts.
Italy’s gas imports from Algeria rose sharply from 1 April, the start of the contractual summer delivery period. April volumes are up almost 70% on the March average of 13.4mn m³/day (470mn cfd), according to data published by Italian pipeline operator Snam Rete. (CONTINUED - 1029 WORDS)