Italy could become Europe’s main natural gas hub, an exporter for the first time

Relevant to Egypt’s ambition as a regional gas and energy export hub: Italy is the new “center of gravity in Europe’s natural gas market” and could soon find itself an exporter for the first time in its history, according to Bloomberg. The country’s favorable geography makes it “very well positioned to act as a hub,” Snam SpA CEO Marco Alvera says. New discoveries in Egypt and Israel, as well as existing connections to Libya, Algeria, Russia, and the North Sea have put Italy on the map. But Alvera says the the country is poised to become an exporter of natural gas as well. He explains that Snam is pursuing an extensive pipeline strategy that could, if successful, even reduce Europe’s high gas prices by connecting Italy to the Caspian sea through a “EUR 4.5 bn Trans-Adriatic Pipeline that it’s developing with BP Plc and the State Oil Co. of Azerbaijan.”