Snam, the Italian gas transmission system operator, has released its 2022 results, posting a net profit of €671m (-55% compared to 2021). Gas demand in Italy declined by 10% in 2022 to 68.7 bcm, driven down by a lower consumption in all sectors. Gas consumption contracted in the residential and tertiary sector (-16%), because of warmer weather than in 2021, and energy conservation efforts. It also decreased in the industrial sector (-14%) due to the effect of the increase in commodity prices and the unstable macroeconomic situation that led to a drop in industrial production in some energy-intensive sectors. Gas consumption was cut in the power generation sector (-3%) as a result of higher gas prices, despite the drop in hydro production caused by extreme drought. At constant climate, Italian gas demand decreased only by 8%.
In 2022, 75.4 bcm were injected into the national gas transport network, broadly in line with the volume recorded in 2021. Around 2.2 bcm of natural were regasified in 2022 (twice as much as 2021) at the LNG terminal in Panigaglia, La Spezia. The demand for LNG for to meet domestic demand rose due to the impact of the Russian invasion of Ukraine on the gas market.
In 2021, natural gas was Italy’s main energy source, accounting for 43% of primary consumption. About 96% of the country’s natural gas consumption was imported in 2021, mostly from Russia (39%) and Algeria (31%).