LNG

Australian natural gas producer Po Valley Energy said its London-listed subsidiary would start production in the coming days at the Bezzecca gas field near Milan in northern Italy in a small-scale domestic resource challenge to LNG and pipeline gas imported from North Africa.

Australian natural gas producer, Po Valley Energy, successfully listed its Italian gas subsidiary, Saffron Energy, on the Alternative Investment Market of the London Stock Exchange in a share offering that was oversubscribed and ended its first day of trading at close to a 50 percent premium.

Australian oil and gas exploration and production company Po Valley Energy is moving ahead with plans to compete with LNG in Italy by setting its initial public offering date in London for around February 24 when it will sell shares in a spin-off developing onshore Italian natural gas.