Thursday, March 4, 2010

Spain Delivering Natural Gas to Italy

MILAN, March 3 (Reuters) - Spain's Gas Natural (GAS.MC: Quote, Profile, Research) has imported 280,000 cubic metres of liquefied natural gas (LNG) to Italy this winter and plans more deliveries in a bid to boost its market share, the company said on Wednesday.

Gas Natural's deliveries to Panigaglia LNG terminal in central Italy, controlled by Italy's oil and gas major Eni (ENI.MI: Quote, Profile, Research), have come in four 70,000 cubic metre shipments and more deliveries are expected soon, it said in a statement.

Increasing delivery frequency "clearly shows that Gas Natural is betting on the Italian market which, due to its strategic location and energy needs, is an important opportunity for the company to boost its presence in the country," it said.

Gas Natural said it was going ahead with its plan to build an 8-billion-cubic-metre terminal at the northern Italian port of Trieste, but gave no further details. (Reporting by Svetlana Kovalyova, editing by Anthony Barker and Daniel Fineren)

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