Bribery Scandal Blemishes Big Week For Eni

21 Dec 2017   Italy

It’s been a busy week for Eni. The Italian oil giant started production at the largest natural gas field in the Eastern Mediterranean. But Eni’s CEO also just found out that he will face trial in Milan over a bribery scheme. First the good news. Eni started up production at the Zohr gas field off the coast of Egypt, a rapid turnaround from the initial discovery in 2015. Production is estimated at 350 million cubic feet per day, but will rise substantially in the next two years as the company drills up to 20 wells. Egypt’s oil minister said that output will hit one billion cubic feet in June 2018 before rising dramatically to 2.7 bcf/d by the end of 2019. Zohr is important to both Egypt and Eni. The Egyptian government believes the massive gas field will help the country achieve “self-sufficiency of natural gas, ease the burden […]

Eni: More oil offshore Mexico than originally estimated

13 Dec 2017   Italy, Mexico

Italian energy company Eni said Tuesday the results of a well off the coast of Mexico meant it could raise its oil reserve estimate by more than 40 percent. The company said it finished drilling a well in the shallow waters in the Campeche Bay off the coast of Mexico. As a result, the company said it was able to revise its estimate for the broader region, an exploration prospect it calls Area 1, from 1.4 billion to 2 billion barrels of oil equivalent. About 90 percent of that estimate is expected to exist as oil. “Eni will shortly submit the development plan for Area 1 to the approval of the local authorities,” the company said in a statement . […]

Italian oil company given drilling permit in Alaska

30 Nov 2017   Arctic, Italy, USA

Letting a foreign energy company drill into the Arctic areas of Alaska is a twin insult from the Trump administration, an advocacy group said. The U.S. Bureau of Safety and Environmental Enforcement said “achieving American energy dominance” moved a step closer with the approval of a permit for a U.S. subsidiary of Italian energy company Eni to drill for oil from an artificial island in the Beaufort Sea starting next month. Kristen Monsell, a legal director at the Center for Biological Diversity, said the decision from U.S. President Donald Trump ‘s administration was “totally boneheaded.” “Drilling for oil in the Arctic is an accident waiting to happen,” the group said in a statement emailed to UPI. “The Trump […]

Italy Looks To Phase Out Coal-Fired Electricity By 2025

11 Nov 2017   Coal, Italy

Italy’s government unveiled on Friday a new national energy strategy aiming to phase out coal in electricity generation by 2025, and significantly boost the share of renewables in total energy and electricity consumption. In the framework document drafted by the ministries of economic development and environment, Italy plans to have 28 percent of its total energy consumption covered by renewable energy sources by 2030, compared to 17.5 percent in 2015. The target for renewables in electricity generation is to achieve a share of 55 percent by 2030, up from 33.5 percent in 2015. In the transportation sector, Italy targets renewables at a 21-percent share by 2030, versus 6.4 percent in 2015. The country is also doubling research and development investments in clean energy to US$517 million (444 million euro) in 2021 from US$258 million (222 million euro) in 2013. Alongside a big push for renewables, Italy—Europe’s fourth-largest energy consumer […]

Iran reaches agreement on gas with Italian power company

21 Oct 2017   Iran, Italy

Iranian oil and gas companies said they’ve signed agreements with an Italian power company to capture flared gas at one of the world’s largest natural fields. Pars Oil and Gas Co., the National Iranian South Oil Co. and a handful of others said they signed a memorandum of understanding with Italian power company Ansaldo Energia to collect flared gas from Phase 12 of the operations at the South Pars gas field. The World Bank has described natural gas as a bridge fuel to a low-carbon economy, noting it’s unfortunate companies are burning it off at the wellhead. The bank said flaring adds to the amount of potent greenhouse gas emitted into the atmosphere. It’s also […]

Vatican to Shut Off St. Peter’s Square Fountains Due to Italy’s Drought

29 Jul 2017   Italy

The Vatican says it is shutting off all its fountains, including those in St. Peter’s Square, because of Italy’s drought. Vatican Radio on Monday said the decision is linked with Pope Francis’ teachings on the environment. The pope has decried wasteful practices and praised clean drinking water as vital for both people and the environment. Meteorologists say spring 2017 was Italy’s third-driest in some 60 years. The drought has put Rome at risk for drastic water rationing, a measure being considered later this week by authorities. Vatican Radio said all of Vatican City’s fountains will go dry, including those in its gardens, to help save water. Francis laid out his fears for the future of the world’s environment in a 2015 encyclical, a formal teaching document.

Italian energy company Eni recovers after spending cuts

2 Mar 2017   Italy

Italian energy company Eni said it managed to turn a corner after trimming investments last year to turn in its first quarterly profit in more than a year. “The 2016 results mark the successful conclusion of a radical transformation process,” CEO Claudio Descalzi said in a statement . “Over the past three years, Eni has restructured to withstand one of the most complex environments in the history of the oil industry, while strengthening its growth prospects and preserving a robust balance sheet.” Eni reported a net profit of $484 million during the fourth quarter, a year after taking an adjusted net loss of nearly $320 million. The company is coming off a string of successes. In February, […]

Italian Prosecutors Request Eni CEO, Shell Stand Trial

9 Feb 2017   Italy, Nigeria

Italian prosecutors are pursuing a criminal trial for Royal Dutch Shell PLC and the chief executive of Italian oil company Eni SpA on charges of corruption tied to a controversial Nigerian deal, according to a person familiar with the matter. The prosecutors’ request—if granted by a judge over the next several months—could lay bare the operations of Shell and the actions of Eni executives in pursuit of a potentially giant…

Italian Olive Groves vs Multi-Billion Dollar Pipeline

26 Jan 2017   Italy, Pipelines

The Trans-Adriatic Pipeline is a key element of Azerbaijan’s efforts to export its greatest source of wealth, its Caspian Sea natural gas deposits, to European markets. It is also a cornerstone of the European Union’s strategy to weaken Russia’s hold on European gas markets. The pipeline’s route, however, passes through ancient olive groves and over pristine beaches in the Italian region of Puglia, which relies on that bucolic landscape for its major industry, tourism. That has set up a standoff between global energy interests and local environmental activists. And with a December referendum in Italy that reinforced local governments’ autonomy, the anti-pipeline activists have – if only temporarily – gained the upper hand. The pipeline is currently under construction by a consortium of companies, with Azerbaijan’s state energy company SOCAR holding a 20 percent share. The European Bank of Reconstruction and Development is considering a EUR 2 billion loan […]

Italy overtakes Turkey to become Russia’s second biggest gas buyer

Italy is now the second biggest buyer of Russian gas in Europe — overtaking Turkey — the head of Gazprom said Wednesday. CEO Alexei Miller said Italian demand for Russian gas continued to rise and was up 5.3% so far in 2016 compared with the same period of last year. But although volumes to Italy so far this year are up on 2015, the growth has slowed in the second quarter compared with the first. In addition, Turkish purchases are considerably down this year compared with 2015. “In 2016, Italian consumers have increased their demand for gas from Russia,” Miller said in a short statement. “Italy is now ahead of one of our biggest consumers — Turkey — in terms of the Russian gas volumes purchased in 2016. Currently it is the second biggest consumer of Russian gas among all importing countries,” he said. Germany is the biggest buyer […]

Iran says it will ship more oil to Italy

10 May 2016   Iran, Italy

Iran’s deputy oil minister claimed a deal was made with an Italian refining company for the delivery of around 65,000 barrels of oil per day. Rokneddin Javadi, chief of the state-owned National Iranian Oil Co. and deputy oil minister, said the deal was signed with Italian refining company Saras, which had no official statement on the arrangement. “The agreement covers a daily sales volume of 65,000 barrels of crude oil,” he was quoted by Iran’s Mehr News Agency as saying. According to Javadi, that would be about twice what Iran sends currently to the Italian market. The deputy oil minister expressed optimism that a broader deal was possible with Italian energy company Eni, in which case oil exports to Italy […]

Eni Posts Loss Amid Oil Price Rout

29 Apr 2016   Italy

Italian oil company Eni SpA plunged to a net loss in the first quarter, hurt by accounting changes related to disposals and low crude oil prices. It posted a net loss for the quarter of €792 million ($897.8 million) compared with a net profit of €832 million in the same period a year earlier. It also reported a loss on its continuing operations of €803 million, down from a profit of €617 million in the first quarter of 2015. Adjusted operating profit from continuing operations was down 69% compared with the same period last year at €472 million, pressured by lower commodity prices. Eni, along with other energy companies world-wide, has been hampered by an oil price slump that started in 2014 and hit a 13-year low at the beginning of the year of […]

Italy’s gas imports from Russia hit new low, Algerian flows at steady

19 Apr 2016   Italy

* Just 48 million cu m of Russian gas reached Italy Sunday * Supplies from northwest Europe at lowest since October 2015 * Algerian exports to Italy remain above 60 million cu m/d Italian gas imports from Russia and northwest Europe hit new lows on Sunday, as flows from Algeria continued to defy expectations, remaining at a steady high since the start of April, according to data from Eclipse Energy, an analytics unit of Platts, Monday. The rise in Algerian gas exports to Italy since the start of the second quarter has seen a slump in supplies from Italy’s other core gas suppliers. Italy is Europe’s third biggest gas market with consumption of some 66 Bcm in 2015, and it is reliant on imports for as much as 90% of its demand. Article Continues below… European Gas Daily is a flagship Platts publication that delivers crucial competitive intelligence across […]

Credit rating for Italy’s Eni downgraded

25 Mar 2016   Italy

Ratings agency Standard & Poor’s said it lowered the credit rating for Italian energy company Eni by one notch because of the impact of low oil prices. “We believe that persistently low oil and gas prices will result in squeezed profits,” the ratings agency said in its statement of rationale. Italy’s largest oil producer and a world leader in the natural gas sector in February reported an adjusted net loss of around $419 million, after taking a profit of around $275 million a year earlier. Eni Chief Executive Officer Claudio Descalzi said last year’s results were pressured by slumping crude oil prices and this year would be no different. For 2016, the company said its outlook was […]

Eni Plans Deeper Cost Cuts, Asset Sales to Weather Oil Plunge

19 Mar 2016   Italy

Eni SpA, Italy’s largest oil producer, plans additional asset sales valued at 7 billion euros ($7.9 billion) by 2019 and deeper cost cuts as it seeks to offset the impact of the plunge in oil prices. The explorer targets production growth of 13 percent to 2019, while reducing upstream capital expenditure by a further 18 percent compared with last year’s plan, Rome-based Eni said in a strategy update Friday. Savings from measures including contract renegotiations and synergies with existing assets have brought down break-even costs for new projects to $27 a barrel of oil equivalent from $45, it said. Eni and its peers are trying to adapt to the worst crude-market collapse in a generation by cutting spending. The company reported a fourth-quarter loss last month, even as oil and gas production rose to the highest in five years. “Our industry is facing a very complex challenge: reducing costs […]

Eni Plans More Than $14 Billion in Cost Cuts, Asset Sales

19 Mar 2016   Italy

Eni SpA Friday announced plans for €13 billion ($14.71 billion) in cost cuts and asset sales, the latest major oil and gas company to further adjust its strategy to enduring low crude oil prices. Eni, Italy’s largest company by market value, said it would sell €7 billion in assets by 2019, with most of that coming from stakes in recently discovered oil and gas fields. That is on top of €8 billion of asset sales announced last…

Eni Starts Pumping Oil From World’s Northernmost Offshore Platform

14 Mar 2016   Italy, Norway

After long delays and cost overruns, Italian oil company Eni SpA has started to pump oil from the world’s most northern offshore platform, Goliat, which is located in the Arctic about 50 miles from Norway’s northern coast. A spokesman for Eni said Sunday that the company started pumping oil on Saturday night, after receiving the final go-ahead from the Norwegian government. Eni’s plans to begin pumping from Goliat were…

Total, Eni Bet On New Finds As Rivals Cut Costs In Oil Downturn

8 Mar 2016   France, Italy

As oil firms slash billions of dollars of investment to survive the market crash, France’s Total and Italy’s Eni are making some of the smallest cuts, gambling in the hope of big-ticket discoveries that will reward them when prices recover. Both approaches carry risks. Intensive exploration programmes mean higher costs and lower profits in the short term, with no guarantee of finding new fields. But firms that scale back too far may damage future growth prospects, forcing them to splash out on acquisitions. Wood Mackenzie analysts expect this year’s exploration spending to fall to just half of a peak of $95 billion reached in 2014. Against that background, Total’s 21 percent cut is among the smallest. The French company, which pursued a “high risk-high reward” strategy under late chief executive Christophe de Margerie, will still spend $1.5 billion on exploration this year, including off Myanmar, Argentina and Nigeria. “Our […]

Eni Promises More Cost Cuts After Net Loss More Than Triples

27 Feb 2016   Italy

Eni SpA promised more cost cuts as the recent plunge in global crude prices claimed another major oil industry casualty, tripling the Italian company’s fourth-quarter net loss. To confront the continued low price of crude, Eni said it would shave capital expenditures by 20% in 2016, after trimming costs by a similar amount last year. Italy’s largest company by market value, will also reduce exploration, renegotiate contracts with suppliers and delay some projects in countries including Iraq and Venezuela. Like other oil exploration companies, Eni has been forced to realign its strategy to adjust to cheap crude, which most analysts predict won’t return to $50 a barrel within the year. The company had been forecasting crude at $90 a barrel for the period 2016-2019, but reduced that to $60 a barrel. With Brent crude, the global benchmark, trading Friday not far from a 12-year low , Eni is still […]

Eni Posts Fourth-Quarter Loss as Lower Oil Prices Bite

26 Feb 2016   Italy

Oil, gas production rose 14% to highest in five years Eni SpA reported a fourth-quarter loss after the slide in energy prices deepened even as the company’s oil and gas production rose to the highest in five years. Italy’s largest oil producer posted an adjusted net loss of 379 million euros ($419 million) after a profit of 250 million euros a year earlier. That compares with average estimates for a 225 million-euro adjusted profit in a Bloomberg survey of eight analysts. Hydrocarbon production rose 14 percent as the company’s exploration and production unit exceeded analysts’ expectations. The shares gained 4.2 percent. The worst crude-market collapse in a generation has slashed earnings for producers from Exxon Mobil Corp. to BP Plc and the industry is struggling to strike a balance between maintaining strong finances and making shareholder payouts. Eni was the first major oil company to cut its dividend last […]

Italy Quietly Agrees to Armed U.S. Drone Missions Over Libya

23 Feb 2016   Italy, Libya

The Italian government last month quietly began allowing armed American drones to fly out of an air base in Italy for military operations against Islamic State in Libya and across North Africa—a breakthrough for Washington after more than a year of negotiations, U.S. officials said. But Rome’s green light came with a caveat that underscores the challenges the U.S. faces as it attempts to win commitments from allies in the fight against the extremist group: The Italians granted permission for the drones to be used only defensively, to protect U.S. special-operations forces in Libya, the officials said. U.S. officials are still attempting to persuade the Italian government to allow the drones, based at Naval Air Station Sigonella on the island of Sicily since 2011, to be used for offensive operations like one the U.S. conducted Friday against a training camp near the border town of Sabratha, Libya, targeting a […]

Iran, Italy sign energy agreements

27 Jan 2016   Iran, Italy

Italian energy company Saipem said it signed an agreement to explore the option for working in the opening Iranian oil and gas sector. Saipem, a subsidiary of Italian energy company Eni, signed a memorandum of understanding for “potential cooperation on major projects in Iran.” The agreement was signed in the presence of Italian Prime Minister Matteo Renzi and Iranian President Hassan Rouhani in Rome. “The MoU, signed with the Parsian Oil & Gas Development Company, envisages discussions aimed at Saipem’s potential cooperation in revamping and upgrading the Pars Shiraz and Tabriz refineries [in Iran],” the company said in a statement. SHANA, the news website for the Iranian Oil Ministry, said both sides were mulling a pipeline contract […]

Bicyclists have free rein as Milan bans private cars

29 Dec 2015   Italy

Bicyclists had free rein of Milan’s streets Monday during a six-hour ban on private cars in a bid to alleviate persistent smog. Pollution levels in Italy’s business capital have exceeded levels considered healthy for more than 30 days straight, prompting officials to ban private cars from 10 a.m. until 4 p.m. Monday through Wednesday this week. Officials said private motorists, who risked steep fines, widely respected the ban on its first day. Rome, which is also battling smog, has been enforcing alternate day driving based on odd and even numbers on license plates, while Florence has announced limits on automobile access to the historic center through New Year’s Eve. The measures have been criticized as insufficient, with some calling for more incentives to use public transport, shutting off school heating systems during the winter break and urging citizens to turn down the heat […]

Italy smog: Milan and Rome ban cars as pollution rises

28 Dec 2015   Air Quality, Italy

Milan is banning cars, motorcycles and scooters for six hours a day over the next three days. In Rome, cars with odd-numbered plates have been banned for nine hours on Monday. On Tuesday, cars with even-numbered plates will be restricted. Experts say unusually calm and dry weather means that pollution is not being dispersed. In Rome, cars deemed to be environmentally friendly, such as those with hybrid engines, are exempt from the ban. Milanese authorities have introduced a special “anti-smog” all-day public transport ticket for €1.50 (£1.05; $1.65). The ban there will be in force for six hours a day until Wednesday, with drivers facing fines if they do not comply. Announcing the ban last week, Milan Mayor Giuliano Pisapia appealed to […]

Statoil dumps stake in European gas pipeline

2 Dec 2015   Italy, Norway

Italian energy company Snam said it bought Statoil’s stake in the planned Trans Adriatic gas pipeline, billed as a near-panacea for European diversification. For total consideration of $220 million , the Italian company took on the 20 percent stake in the planned gas pipeline from Norway’s Statoil. TAP is slated to transport natural gas from the second phase of the Shah Deniz natural gas field off the coast of Azerbaijan as early as 2019. It will run from the Turkish border with Greece to Italy and onto southern European markets, part of a network dubbed the Southern Corridor. Carlo Malacarne, the chief executive officer at Snam, said the deal follows an agreement made in September with the State Oil Company […]

Italy’s Eni Set to Begin Arctic Oil Quest, Even as Others Abandon Field

23 Nov 2015   Arctic, Italy

Even as energy companies retreat from exploration in the Arctic, Italy’s Eni SpA will soon open the taps on the northernmost offshore oil platform in the world, offering a glimmer of potential for crude in the region—though at a considerable cost. In a field in the Barents Sea nearly 300 miles north of the Arctic Circle, Eni is set to begin pumping at its Goliat platform before the end of this year. It would open a flow that will eventually reach 100,000 barrels a day and place Eni among a select group of oil producers in the region. The rig’s imminent launch underscores the continuing appeal of the Arctic, but at the same time highlights the challenges of operating in a frontier region where crude is difficult and expensive to extract. The huge cost of pushing ahead with such projects, amid the […]

Eni Swings to Net Loss on Low Oil Prices

30 Oct 2015   Italy

Eni E -1.19 % SpA said Thursday that it swung to a net loss in the third quarter as low oil prices reduced the profitability of the Italian company’s core oil and gas exploration business and another unit posted a large loss. The net loss in the three months to end-September was €952 million ($1.05 billion) compared with a net profit of €1.71 billion in the same period last year. Revenue declined by almost a third to €18.81 billion. Like its competitors, Eni is grappling with what industry executives and analysts say will be a sustained period of low oil prices. Brent, the global benchmark, averaged $50 a barrel in the quarter compared with double that in the same period last year. Cost cuts and a reduction in its dividend announced in March have helped Eni weather the two-thirds drop in the profitability of its oil and gas […]

Eni: $55 per barrel oil what we need

30 Oct 2015   Italy

Italian energy company Eni said it would be able to cover its operational plans for 2015 assuming an average oil price of around $55 per barrel. Eni boasted of a strong track record , including wading into new territory in Mexico, for the third quarter and for 2015 so far. The company in October won all of the shares in three oil fields included under what the Mexican government categorized as Area 1 during a government auction. Eni said the combined reserves for the three fields are approximately 800 million barrels of oil and 480 billion cubic feet of associated gas. In August, the company announced the discovery of 30 trillion cubic feet of natural gas off the Egyptian coast, the largest discovery […]

Eni Reports Third-Quarter Loss After Crude-Oil Prices Slide

29 Oct 2015   Italy

Eni SpA, Italy’s largest oil producer, reported a net loss in the third quarter after crude prices slumped. The adjusted net loss was 257 million euros ($281 million) compared with net income of 1.17 billion euros a year earlier, the Rome-based company said Thursday in a statement. “The fundamentals of the oil market remain weak due to oversupplied global markets and uncertainties about the resilience of demand,” Eni said, announcing a reduction in its annual spending plan. The shares fell as much as 1.6 percent in Milan. The price of Brent crude, a global benchmark, has tumbled about 45 percent in the past year amid a persistent glut. Eni and its peers have been forced to cut spending, sell assets and cancel projects to weather a decline in earnings, which has been partly offset by higher margins from oil refining. The Italian company, which operates five processing plants in […]

Eni takes lead in new Mexican oil era

2 Oct 2015   Italy, Mexico

Italian energy company Eni said it secured a production sharing contract to help develop oil fields off the eastern coast of Mexico. Eni said it won all of the shares in three oil fields included under what the Mexican government categorized as Area 1 during the latest government auction. The Italian company said the combined reserves for the three fields are approximately 800 million barrels of oil and 480 billion cubic feet of associated gas. Eni said it would move quickly on an appraisal campaign to confirm the reserve estimates with the ultimate goal of fast-track development. “Area 1 will be operated by the new company Eni Mexico,” the company added. Eni was among the largest winners in the Mexican auction. The Wall Street Journal reports two areas on […]

Eni starts production at giant Venezuelan gas field

7 Jul 2015   Italy, Venezuela

Italian energy company Eni said Monday it started production at the Perla gas field, the largest field of its kind found off the coast of Venezuela. “Perla was for Eni one of the most significant start-up projects of 2015, and the today result confirms the validity of our development model that allowed us to reach production in an industry-leading time to market,” Eni Chief Executive Officer Claudio Descalzi said in a statement. Considered among some of the largest gas discoveries in the world, Eni said the Perla field off the coast of Venezuela holds an estimated 17 trillion cubic feet of natural gas. It’s situated about 30 miles offshore in the Cardon IV reserve area, […]

ChemChina to Buy Controlling Stake in Pirelli

23 Mar 2015   Italy

China National Chemical Corp. and other investors are making a bid for Pirelli & C. SpA that could value the Italian tire manufacturer at around $7.7 billion—one of the largest overseas acquisitions by a Chinese state firm in recent years. The deal will give China, the largest auto market in the world, control of one of the world’s top tire brands and if the tender is completed, the largest acquisition by a Chinese state firm since oil giant Cnooc Ltd.’s $15 billion acquisition of Nexen Inc. in 2012, according to Dealogic data. A unit of China National Chemical, known as ChemChina, will initially pay about €1.8 billion ($1.9 billion) to buy a 26% stake in Pirelli owned by Camfin, […]

Eni Falls Deeper Into Red on Lower Oil Price

18 Feb 2015   Italy

Eni SpA has reported a wider net loss in the fourth quarter as the sharp drop in crude oil prices played havoc with the Italian oil and gas group’s performance, knocking revenue lower and triggering hefty write-downs. Eni said its net loss widened to €2.34 billion ($2.67 billion) in the three months to end-December, compared with a net loss of €647 million in same period the previous year, on a 10% drop in revenue to €26.83 billion. Adjusted profit, which strips out special items, dropped by two-thirds to €464 million, below a consensus analysts’ forecast €614 million. Showing similar strain to its bigger European rivals like Royal Dutch Shell NV, BP PLC, and Total SA, Eni said it marked down the value of its oil and product […]

The other side of the peak: Italy’s collapse of oil and gas consumption

24 Jan 2014   Italy

Italy peak oil consumption. We are back to 1967.   All the data in this post are from BP statistical review up to 2012, updated to 2013 from various sources. Sometimes, peak oil looks like an intellectual game that people keep playing by arguing whether it has arrived or not. But the point with oil is not how much of it is produced, somewhere, but how much you can afford to use. And, for Italy, the peak of consumption has already arrived, as you can see in the figure above. It is impressive: consumption went down of more than 30% in less than 10 years. Today we are back to the levels of 1967. And, in 1967, Italy’s population was around 50 million people, some ten million less than today. We really have reached the other side of the peak and we don’t see […]

Italy Taps Oil for Crisis Fix

13 Jan 2014   Italy

The impoverished region of Basilicata, in the instep of the Italian boot, has long been called the Texas of Italy for oil reserves so abundant that crude bubbles out of natural springs. For years, though, local governments have hindered production amid complaints that the region wasn’t getting its fair share of the rewards and worries about potential harm to its tourism industry and the environment. Now, the Italian government—hungry for revenue and desperate to create jobs and jump start the recession-weary economy—is trying to clear the path for the country’s own Eni  […]

Snam Says First Gas Flows Coming from Libya After Stoppage

Italy’s biggest natural gas grid operator by pipelines, Wednesday said it is registering the first gas imports from Libya arriving in Sicily after unrest in the North African country blocked flows last week. Libyan gas flows are registered in the Sicilian Gela entry point, said Snam in a message sent via Twitter. It expects 3.5 million cubic meters of gas Wednesday, it added. Eni SpA (E), Italy’s biggest energy company by market value, said Nov. 11 that protesters in Libya had stopped gas exports to Italy. The protesters had blocked the key gas terminal of Mellitah, which is jointly run by Eni and the Libyan National Oil Co. The terminal facilitates gas exports via the Greenstream pipeline that can supply more than 10% of gas demand in Italy. Write to Liam Moloney at