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Libyan natural gas flows to Italy remain low on Greenstream pipeline outage: sources

Libyan gas exports to Italy were still below average Friday after gas pumping rates at Libya’s Greenstream pipeline to Italy plummeted Thursday, sources close to the matter said.

* Russian imports, storage withdrawals cover

* No impact on prices due to limited changes

* PSV up in Friday trade on colder temperatures

“Libyan flows are still below average today but the system is balanced with more Russian gas and storage withdrawal,” a trader said.

Snam figures showed gas supply from Libya via Gela was nominated at 5 million cu m Friday, down 9 million cu m from Thursday’s day-ahead nominations. Supply from Russia via Tarvisio was nominated at 51 million cu m, with storage withdrawals nominated at 99 million cu m.

“It’s not a huge change on the day; I don’t think it had a real impact on the market,” another trader said.

Libyan gas exports to Italy via Gela were down 8.6 million cu m at 4 million cu m Thursday, a level not seen since August 26, data from S&P Global Platts Analytics showed Friday.

Russian gas exports to Italy through Austria increased to 43 million cu m Thursday, while storage withdrawals stood at 104 million cu m, up 13 million cu m on the day.

At 12:00 pm London Time Friday, the PSV day-ahead contract was trading at Eur21.1/MWh, up 50 euro cents from the previous assessment. Sources said colder temperature forecasts in Italy were adding to the upward pressure on spot prices.

–Lara Berton, lara.berton@spglobal.com

–Edited by Jonathan Fox, jonathan.fox@spglobal.com

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