The main management guidelines provide for organic growth in Italy and the consolidation of the Company’s presence in Europe, with the objective of improving supply security, flexibility and the quality of service of the entire gas system.
The most recent estimates on the evolution of natural gas demand in the Italian market foresee a situation of substantial stability with respect to the 2017 levels in the period 2017-2021, even in the presence of a gradual reduction of domestic European production that will be offset by an increasing dependence on imports.
Snam confirms a major investment plan, of around EUR 5.2 billion in the period 2017-2021, of which EUR 1.0 billion realised in 2017, to support Italian infrastructure development and its interconnection with European infrastructure, strengthening the security, flexibility and liquidity of the entire gas system. The Plan provides for the enhancement of the transportation network, also allowing for the completion of additional reverse flow capacity towards other European countries, and accepting new gas flows from the Caspian region through the TAP gas pipeline. The priorities of the investment plan for the business segment are:
TRANSPORT: the investments will be aimed at increasing the flexibility and security of the transportation system in Italy; ongoing improvements to the quality of the service; increasing levels of interconnection between infrastructures and greater flexibility of gas flows in Europe. Over the period in question, the planned investments should allow the Company to extend the total length of the transportation network (32,500 km in 2017) by around 2% and to increase the installed power in the compression stations by around 5% (922 MW in 2017).
STORAGE and LNG: the projects included in the plan, which are intended to improve the system's overall security and flexibility, allowing an increase in the period in question of approximately 4% of the available storage capacity (12.2 billion standard cubic metres in 2017) and approximately 2% of delivery point capacity (250 million standard cubic metres/day in 2017).
In addition, during the period of the plan, Snam will construct refuelling stations for natural gas vehicles, with the goal of increasing the number of existing methane service stations, to improve the quality of the service and to ensure a more balanced distribution of the stations.
Furthermore, Snam will be able to leverage its international subsidiaries to promote greater interconnection between European infrastructure systems, and to develop greater diversification and flexibility of gas flows, while at the same time maximising the profitability of its assets. Snam, applying a selective approach and its financial policy, will monitor new opportunities to invest in infrastructure assets, including at the European level, with a risk profile in line with that of its current business portfolio
Also for 2018, Snam confirms its attention to operational efficiency, applying initiatives that allow the maintenance of an essentially constant cost level in real terms for the core business. Snam will also ensure all necessary measures to promote the use of its know-how in gas infrastructure to serve investees and third parties.
14 March 2018 - 10:34 CET