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Italian October natural gas demand down 5.2% year on year to 4.556 Bcm

Natural gas demand in Italy in October stood at 4.556 billion cubic meters, down 5.2% year on year, gas and power exchange manager GME said.

The decrease was mainly due to lower power plant consumption, which was down by 10.3% to 1.628 Bcm.

Meanwhile, demand from industrial sites and local grids fell 5.3% and 1.8%, respectively, to 1.092 Bcm and 1.639 Bcm. Exports and grid losses rose 17.9% to 197 million cu m.

On the supply side, imports decreased 16.6% to 4.160 Bcm, driven by a drop in Algerian and Russian gas flows into the Mazara del Vallo and Tarvisio entry point by 87% and 33.2%, respectively, to 1.527 Bcm and 151 million cu m.

Imports from Switzerland and Libya into Passo Gries and Gela increased 126% and 107.5%, respectively, to 1.461 Bcm and 588 million cu m.

Output at the Cavarzere LNG terminal fell 12.2% to 432 million cu m, while national production was down 10.6% to 579 million cu m.

GME said 294 million cu m were injected into storage in October, down 64.7% year on year, while 579 million cu m were taken out of storage.

Total levels of stored gas stood at 11.749 Bcm on the last day of October, up by 12.4% year on year.

Meanwhile, some 4.3 TWh were exchanged on regulated gas platforms, accounting for 8.9% of total demand. All volumes were exchanged on the sessions "G-1" and "G+1" of the gas balancing platform PB-gas, which settle the day before and after the balancing takes place, at average prices of Eur23.61/MWh and Eur26.45/MWh, respectively.

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