Snam: gas storage levels at almost 92 per cent. Scornajenchi: ‘We have met our obligation; other countries have not’

Gas storage facilities are almost 92 per cent full across Europe, which, with winter just round the corner, finds itself having to tackle the issue of German storage facilities. For if it is true, as Snam’s CEO, Agostino Scornajenchi, explained today on the sidelines of the celebrations marking the group’s 85th anniversary – founded on 30 October 1941 as Società Nazionale Metanodotti – that Italia has met the obligation set by Europe (namely to reach 90 per cent capacity), ‘other countries have not done the same’. First and foremost, Germany, which today entrusted a spokesperson for the Ministry of Economy and Energy with responding to the concerns raised in recent days by the Director-General for Energy Markets and Infrastructure at the Ministry of Economic Development (MASE), Alessandro Noce, according to whom ‘without Germany’s belated purchases, prices would now be at 70 euros per megawatt-hour, whereas they currently stand at 100 euros per MWh’. These claims were dismissed by the German government, which played down the impact on the European market and also rejected accusations that it had delayed filling its storage facilities in order to focus on the privatisation of Sede and Uniper.

In short, tensions between Italia and Germany are running particularly high. But, beyond the controversy, our country is preparing to face the winter with the highest storage levels across the whole of Europe (where the average stands at 75 per cent, whilst German storage facilities are currently 61.7 per cent full). This is thanks to the government’s decision to bring forward the filling process, which began in March, when gas prices were still hovering around 40 euros per MWh, whereas today the Amsterdam TTF has broken through the 103-euro mark.

Scornajenchi himself explained the rationale behind this move. ‘We had the industrial capacity – and for this I would like to thank Snam’s management, who reacted promptly – as well as the institutional capacity, and for this I would like to thank the government and the Authority for having promptly identified the necessary tools. I am referring to what happened at the end of March – the top executive clarified further – which was needed to launch a campaign to fill storage facilities in a context where, as you will recall, expectations were that the war would end shortly. So, try to imagine the difficulty of taking a stance that went completely against the market trend – Scornajenchi continued – but we did so not for the sake of, shall we say, speculation, or to prove that we were right. We did it because that was our duty; because ensuring the country’s security is our duty.’ Now, the CEO of Snam added, ‘winter is beginning. Some countries have done their duty as we have; others have done less. The system is interconnected, and as such we should carefully assess the impacts arising from any consumption peaks in other countries that are not sufficiently backed up by adequate domestic storage.’

In short, the risk of repercussions is not so far-fetched, as the Minister for the Environment and Energy Security, Gilberto Pichetto, fresh from the EU Energy Council meeting in Luxembourg where, as the Forza Italia representative explained, ‘I reiterated the fact that, under normal circumstances, measures may involve reducing demand. I must say that I concluded by adding: we must be careful, as we risk not being in a normal situation and therefore having to consider, at European level, measures of a different nature as well. The minister pointed out that the demand-reduction plan already exists – to be implemented in the event of an emergency – but it must be borne in mind, Pichetto Fratin added, ‘that amongst the various countries, we are the ones who do not have a problem with quantity; we have a problem with price, whilst there are countries that also have a problem with quantity. If we consider some large neighbouring countries whose stockpiles are at 40 per cent, they are concerned that, in this scenario, they will not have the raw material available. It is clear that the issue there is one of reducing demand and showing solidarity, and we must show solidarity in this regard’.

For the time being, however, Italia can count on the benefits of this proactive storage strategy – the underground ‘battery’ that safeguards Italia’s energy security, as was highlighted during the anniversary celebrations. The event took place in the presence of the Head of State, Sergio Mattarella, and a distinguished gathering of ministers. In addition to the Minister for the Environment, Energy and Sustainable Development (MASE), who was in the front row listening to the speeches by CEO Scornajenchi and Chairman Alessandro Zehentner, those present included the Deputy Prime Minister and Minister for Foreign Affairs, Antonio Tajani; the Minister for the Interior, Matteo Piantedosi; and the Minister for Sport and Youth, Andrea Abodi, alongside a large delegation of MPs from both sides of the political spectrum.