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 future of Natural Gas
Global energy demand is projected to increase over the next fifteen years, especially due to the impetus of emerging (non-OECD) countries. These shall offset the contraction of demand in OECD countries, whose consumption should also decline due to the effect of energy efficiency policies. To date requirements are still mainly covered by coal and oil.
By contrast, at the European level a significant presence of gas and nuclear energy in the energy mix has been recorded, with respective shares of 22% and 14%, with a lower weight for coal (17%) in comparison with the worldwide share, and with a marked regional differentiation within the European market.
In Italy gas plays a more significant role in comparison with other European countries, and covers one third of energy requirements. At the beginning of the decade our country experienced strong growth in renewable sources due to significant financial support for growth in the sector, which represents 18% of the energy mix.
Looking prospectively, the weight of fossil sources worldwide is projected to gradually decline (81% in 2014, compared with a projected 76% for 2030), while gas shall play an increasingly more significant role, with an increase representing approximately the equivalent of 790 megatonnes of oil in 2030. A significant increase in renewables is also forecast.
This trend is even more marked at the European level, where it is possible to observe a decisive contraction in the demand for oil and coal and a substantial increase in demand for gas (approximately 50 Mtep) and renewables, in consideration of changes in the industrial footprint and, above all, energy efficiency policies and a reduction in carbon dioxide emissions.
Snam is going ahead with a significant investment plan of around €5 billion for the 2017 - 2021 period, of which €4.7 billion for plans in Italy. The priorities of the investment plan for the business segment are:
TRANSPORT: the investments will be aimed at increasing flexibility and security of the transportation system in Italy; ongoing improvements to the quality of the service; increase 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 (32,508 km in 2016) by around 1% and to increase the installed power in the compression stations by around 5% (approximately 922 MW in 2016).
STORAGE: the projects included in the plan, which are intended to improve the overall flexibility and security of the system, will deliver an increase in available storage capacity (12.0 billion standard cubic metres in 2016) of about 7% over the period in question and an increase of around 8% in peak capacity (238 million standard cubic metres per day in 2016).
Snam will continue to focus on operating efficiency in 2017, through initiatives that will enable it to keep the level of costs more or less stable in real terms, on a constant-size basis.
Initiatives for the development of new innovative CNG and Small Scale LNG business are being studied, particularly to support the use of gas in the transport sector. In addition, Snam will carry out all actions to leverage the use of its know-how in the construction and management of gas infrastructure for the service of investees as well as third parties.
07 August 2017 - 13:12 CEST