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
9 January 2026
The Latin American producer’s crude prospects rely on a multi-pronged approach where even the relatively easy wins will take considerable time, effort and cost
9 January 2026
While many forecasters are reasserting the importance of oil and gas, petrostates should be under no illusion things are changing, and faster than they might think
8 January 2026
Indonesia and Malaysia are at the dawn of breathtaking digital capabilities. Their energy infrastructure must keep up with their ambitions
8 January 2026
The next five years will be critical for the North Sea, and it will be policy not geology that will decide the basin’s future
