12 Compulsory inventories

Compulsory inventories of €363 million (€405 million at 31 December 2011) refer to 4.5 billion cubic metres of natural gas, i.e. the minimum quantity of gas that storage companies are obliged to hold pursuant to Presidential Decree 22 of 31 January 2001.

The Decree of the Ministry of Economic Development of 29 March 2012 reduced the strategic storage capacity for the 2012-2013 thermal year to 4.6 billion cubic metres18 (5.1 billion cubic metres in the 2011-2012 thermal year). The natural gas freed up by this reduction in strategic storage, corresponding to 0.5 billion cubic metres and worth €42 million, was reclassified under “Inventories” in current assets.

18 Of which 4.5 billion cubic metres is attributable to Stogit (5.0 billion cubic metres in the 2011-2012 thermal year).

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