BAKU, Azerbaijan, May 16. With a storage capacity reaching 16.7 billion cubic meters by March 31, 2024, including strategic reserves, Italian Snam maintains its status as the continent's largest capacity manager, Trend reports.
Stogit, a subsidiary of Snam, held approximately 5.2 billion cubic meters of natural gas in its storage facilities as of March 31, 2024, in addition to 4.5 billion cubic meters of strategic reserves, achieving a fill rate of about 60% by month-end.
In February 2024, Snam initiated exclusive negotiations with Edison, a prominent energy group, for the potential sale of 100% of Edison Stoccaggio S.p.A. The company operates three natural gas storage facilities, with a combined capacity of around 1 billion cubic meters per year, located in Cellino, Collalto, and San Potito e Cotignola.
Moreover, the first quarter of 2024 witnessed a significant increase in regasified volumes, totaling 1.24 billion cubic meters, marking a notable rise of 0.36 billion cubic meters or 40.6% compared to the same period in 2023. Despite a slight decrease in tanker loads unloaded, down to 20 compared to 21 in Q1 2023, the surge in regasified volumes can be attributed to the operational commencement of the FSRU plant in Piombino since July 2023. The plant successfully regasified a total of 0.74 billion cubic meters in Q1 2024, unloading cargo from 8 LNG carriers.
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