A new gas benchmark for southern Europe
New lease of life is raising the profile of a once-moribund hub
The Italian PSV gas trading hub was once something of a backwater in terms of regional trade, but rising activity over recent years means it is fast becoming a possible regional benchmark for natural gas trade. PSV, launched in 2003, reached a record high in traded volumes in January 2019, bringing a once illiquid, non-competitive market to levels of maturity similar to those of Austria, France and Germany. "Since 2014, the PSV has grown from strength to strength not only in volumes but also in the number of participants, including non-industry financial participants, and in 2018 had its best year ever," says Patrick Heather, senior research fellow at the Oxford Institute for Energy Studies.
Also in this section
14 March 2025
Gas production slumped to an eight-year low in 2024, but new discoveries and partnership with Cyprus paint a more positive outlook
13 March 2025
Gas will become a more important part of the energy mix longer-term, raising the alarm for much-need investment as supply struggles to keep up with demand
13 March 2025
The spectre of Saudi Arabia’s 2020 market share strategy haunts a suffering OPEC+ as Trump upends the energy world
12 March 2025
Petronas-Eni eyes joint venture to prioritise key gas developments, with huge opportunities for growth in Indonesia and a steady Malaysia portfolio
