Middle East & Africa: Price trends
Libya’s pipeline gas exports are expected to remain under pressure in the coming months because of low prices in Italy.
Libya exports gas to Italy via the GreenStream pipeline. However, the offtaker Eni is using the flexibility under its long-term supply contract to reduce the volumes it takes. Low gas prices in Italy are squeezing Eni’s profit margin for Libyan gas imports. The contract allows for part of the agreed volume to be deferred if Italy cannot take it or if Libya cannot provide it.