Rome’s intervention to boost gas storage could work. Reluctance from private operators to inject gas into storage sites given current high prices was threatening a plan to boost stockpiles before the winter. That will likely change after Prime Minister Mario Draghi’s government lent 4 billion euros to state operator Gestore dei Servizi Energetici to replenish gas reserves .
Rome's Palazzo Chigi, the seat of the Italian government, is lit up with the colours of the Italian flag on Jan. 15, 2021. REUTERS/Remo Casilli/File PhotoMILAN, July 1 - Rome’s intervention to boost gas storage could work. Reluctance from private operators to inject gas into storage sites given current high prices was threatening a plan to boost stockpiles before the winter.
, or about 59% of total capacity, a similar proportion to German storage levels but well below those of Poland and Denmark. Reaching a 90% storage goal set by the European Commission’s REPowerEU Plan requires adding some 60 TWh. If Italy were to add 70 million cubic metres a day to its stockpile, equivalent to its estimated current daily excess capacity, it should hit the target. But it would cost a hefty 9 billion euros if TTF gas prices remain at 150 euros per megawatt hour.
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