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Trapped gas
01 December 2002
Liberalisation in European gas markets will provide ample opportunities for Italian corporates. But new entrants will have to get creative. By Antonella Baldino and Alberto Carriero, MCC.
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The natural gas sector in Italy ? as broadly described in the recent sector study published by MCC's Industry Research Department1 ? is characterized by high growth rates and the rapid development of both a regulatory framework and corporate activity. The drivers behind expectations of a significant increase in investment and an acceleration of the industrial and corporate restructuring processes are forecasts of a growth in consumption rates and the effects of the gradual liberalization of the energy market.
The implementation of European Directive 98/30/CE is beginning to produce initial results in terms of opening up a protected market, which traditionally featured vertically integrated public monopolies. This new context favours significant investment policies for both gas operators seeking to expand their business, as well as utilities and oil companies eager to reap the opportunities resulting from growth in the sector.
Estimates of the evolution of natural gas consumption demonstrate that...
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