NEW YORK, March 21, 2026, 13:14 EDT
AleAnna finished Friday up 86.8% at $7.07, after hitting an intraday peak of $7.70. Volume spiked, with about 115.4 million shares traded.
This shift has weight: Europe’s chasing gas supplies once more. On Thursday, benchmark European gas prices soared up to 35% after strikes hit major Middle East gas facilities. The European Union, in response, called on members to ease gas-storage goals down to 80% in hopes of steadying the market. Reuters
AleAnna focuses on onshore natural gas and renewable natural gas projects in Italy. The company reported roughly $13.9 million in revenue from Longanesi gas sales during the first nine months of 2025, following initial production in March. Shell Energy Europe remains the sole buyer for AleAnna’s portion of the output. SEC
Last week, the company pushed the narrative further. AleAnna reported that an independent assessment by DeGolyer and MacNaughton bumped up its proved reserves for year-end 2025 by 47%, reaching 25.8 billion cubic feet — that’s gas considered almost certain to be recovered. CEO Marco Brun labeled it a “substantial increase” and said the move sharpens production visibility. GlobeNewswire
The same setup has pushed up major gas stocks as well. Shares of Cheniere Energy and Venture Global jumped earlier this week, after QatarEnergy warned that attacks might knock out close to 20% of Qatari LNG exports for as long as three to five years. Wood Mackenzie’s Tom Marzec-Manser weighed in, saying European and Asian gas prices probably “remain elevated for longer.” Reuters
AleAnna hasn’t strayed from its message in recent months. Back in February, Chairman Graham Van’t Hoff called the EU’s plan to end Russian gas a “decisive policy inflection,” insisting Italy’s own fields and pipelines could become a steady source. GlobeNewswire
The pitfalls are clear. In its most recent quarterly report, AleAnna flagged that its prospects hinge on securing funding, navigating Italian regulations, and moving forward with local field work. The company also pointed out significant gaps in its financial reporting controls. SEC
Friday’s surge stood out, bucking the wider market slide. The Nasdaq slid 2.01%, while the S&P 500 lost 1.51% with investors rattled by Iran war-driven inflation worries. But energy shares in the S&P 500 still notched their 13th consecutive weekly advance. Reuters
