ENTSOG South-North Corridor GRIP 2017 - Main Report

3.4.1.4 Italy

The PSV (Punto di Scambio Virtuale) is a virtual point, conceptually located between the Entry and the Exit Points of the Italian network, where shippers can trade gas already entered in the main national grid, on a daily basis. PSV constitutes the single Italian gas hub and its borders correspond to the ones of the entry-exit system, being therefore the reference national balancing zone. Currently, the PSV represents one of the main European gas marketplaces   5) , having a unique position in terms of availability of gas from different sources, like Russia, Northern Europe (mainly Norway and The Netherlands), North Africa (Algeria and Libya), LNG imports (3 regasification plants) as well as of storage facilities (around 17bcm of storage capacity).

%

% growth of traded volumes from 2013

140

120

100

80

60

40

20

0

2013

2014

2015

Traded Volumes Figure 3.30: Growth of PSV traded volumes from 2013

(Source: IHS Energy European gas hub tracker)

 5) In 2016 PSV ranked 5th for total OTC volumes after TTF, NBP and the two German hubs (source: London Energy Brokers’ Association OTC Energy Volume Report – December 2016).

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South-North Corridor GRIP 2017