Snam’s new corporate structure
29 JUNE 2016
The separation of ITALGAS
Snam’s Board of Directors approved the separation of Italgas from Snam by means of a unitary and substantially simultaneous transaction that includes, inter alia, the partial and proportional demerger and, subsequently, the listing of the shares of the newly incorporated beneficiary company of the demerger, which will directly hold the entire share capital of Italgas, on the Mercato Telematico Azionario (MTA) of Milan.
27 APRIL 2016
Marco Alverà appointed as CEO
Snam’s Board of Directors, chaired by Carlo Malacarne, appointed Marco Alverà as Chief Executive Officer.
17 DECEMBER 2015
Acquisition of 20% of TAP
Snam has completed the acquisition of the 20% interest held by Statoil Holding Netherlands B.V.
in the Trans Adriatic Pipeline AG (TAP).
TAP is the company established for the purpose of developing the Trans Adriatic Pipeline project, spanning from the Turkey-Greece border to Italy along the South Corridor. The project will allow gas produced from Shah Deniz II in Azerbaijan to flow to European markets. This will reinforce the leading role of Italy’s infrastructure in strengthening security of supply and boosting competition among supply sources, for the benefit of the entire European gas system.
19 DECEMBER 2014
Acquisition of 84,47% of TAG
Snam acquires from CDP Gas S.r.l. 84.47% (equivalent to 89.22% of the economic rights) of Trans Austria Gasleitung GmbH (TAG), the company that owns the Austrian section of the gas pipeline linking Russia and Italy: in line with the international development strategy launched in 2012, the transaction strengthens Snam’s role in Europe’s East-West energy corridor, with a view to ever deeper integration of the continent’s gas networks.
30 JULY 2013
SNAM completes the acquisition of TIGF
In the context of the energy infrastructure integration at European level, the consortium formed by Snam (45%), the Singapore sovereign wealth fund GIC (35%) and EDF (20%) complete the acquisition from Total of TIGF (Transport et Infrastructures Gaz France), a company active in the transport and storage of natural gas in the South West of France.
15 OCTOBER 2012
Ownership unbundling from Eni
Cassa Depositi e Prestiti completes the closing of the acquisition of 30% minus one share of the voting capital of Snam held by Eni. Consequently to the sale, Snam is no longer subject to the control and management and coordination of Eni and operates under ownership unbundling in compliance with the provisions of DPCM of 25 May 2012.
3 AUGUST 2012
Snam and Fluxys sign a Memorandum of Understanding
Snam and Fluxys, Belgian partner in gas transmission, sign a Memorandum of Understanding for developing and marketing reverse flow capacities from south to north between Italy and the UK. With this Memorandum of Understanding, both companies enhance their cooperation in the spirit of the EU Third Energy Package for a further integration of European gas markets.
25 MAY 2012
The methods and terms of ownership unbundling from Eni
Italy’s Presidency of the Council of Ministers approves the decree (DPCM) defining the methods and terms of Snam’s ownership unbundling from Eni. According to the decree, Eni has to sell at least a 25.1% stake to Cassa Depositi e Prestiti (CDP) and subsequently the residual portion in Snam’s capital through transparent and non-discriminatory sales procedures.
1 JANUARY 2012
Snam’s new corporate structure
The Company changes its naming from Snam Rete Gas to Snam and confers the transmission, dispatching, remote control and gas metering business to a new company that, taking into account the notoriety of the brand which identifies the leading operator in the transport business in Italy, is named Snam Rete Gas.
Snam consequently becomes a corporate company wholly owning four operating companies that focus on the management and development of their respective businesses, while the new transportation company is configured as an Independent Transmission Operator, as defined in Italy’s enforcement of the Third Energy Package of the European Union. This directive also provides the Snam group to adopt communication policies not generating any confusion with the identity of the vertically integrated company. The new Snam trademark is the result of the reworking of the historic logo of the 1940s, which emphasises the company's strategic role in view of future development and growth programmes, and recovers its original traits and the universe of reference values.
The integration of all regulated gas activities
The acquisition of Italgas and Stogit
Snam Rete Gas acquires the complete control of Stogit and Italgas from Eni for 4.509 billion Euros. The operation creates a new group representing the leading integrated operator in the regulated gas sector, the largest in continental Europe by amount of capital invested for regulatory purposes or RAB (regulated asset base).
Snam Rete Gas wins the 2007 Financial Statement Oscar for Corporate Governance
Snam Rete Gas wins the 2007 Financial Statement Oscar for Corporate Governance. “The company has a corporate governance structure in line with international best practices, with a clear vision of the rights of those involved in corporate life, with a well-defined definition of roles and a high quality of information”, the explanatory note says.
Publication of the first Sustainability Report
Continuing more than a decade of commitment with its Health, Safety and Environment Report, Snam Rete Gas publishes its first Sustainability Report, being sustainable development for Snam the core of a continuous improvement process that can guarantee long-lasting results and benefits in terms of reputation and business.
The liberalisation of market and stock market listinge
Legislative Decree 164/2000 (Letta Decree)
In 2000 the Italian parliament sanctions the implementation of the European Directive (the 98/30/EC) for the liberalisation of the gas market and decides to unbundle transmission and dispatching businesses from all other activities, such as supply and sale.
Network Code and the Virtual Trading Point
On 1 July the Authority for Electricity and Gas Authority approves, with resolution 75/03, the Snam Rete Gas Network Code, which defines the set of rules for access and use by users of the gas transmission service. On 1 October the ‘Virtual Trading Point’ is also launched on the Snam Rete Gas website, from which customers can perform bilateral purchase of gas on a daily basis.
Stock Market flotation
On 6 December 2001 Snam shares are floated on the Italian stock exchange managed by Borsa Italiana. The placement, which takes place at a particularly delicate time on international markets, ends rapidly and with excellent results. Snam is also listed on Italy’s MIB30 index since 18 March 2002.
From Rete Gas Italia to Snam Rete Gas
In anticipation of its stock market listing, Rete Gas Italia is renamed Snam Rete Gas. The new name combines the history of Snam, the company that led Italy’s conversion to methane, with the specific new activity of a natural gas transmission company, emphasising the continuity of values and skills, along with the corporate culture of safety and environmental protection.
FOUNDATION OF GNL ITALIA
Wholly owned by Rete Gas Italia, LNG Italia is founded on 27 July 2001 in order to manage the regasification of liquefied natural gas (LNG) up to that point handled by the parent company.
FOUNDING OF RETE GAS ITALIA
Rete Gas Italia is founded before the new Italian and European regulations come into force. The company takes over Snam’s technological assets and its wealth of expertise in the transport of natural gas.
The development of gas infrastructure
Expansion of import pipelines from Russia, Northern Europe and Libya
Snam completes the upgrading works on import pipelines from northern Europe to transport North Sea gas and to complement the existent Dutch one. At the same time, work begins on the construction of an additional pipeline from Russia and on Greenstream, the underwater import pipeline from Libya.
Snam realizes the Transmed pipeline
In 1983 works conclude on the Transmed pipeline, that sets records in terms of speed of construction and length, being one of the longest in the world and transporting gas for over 2,400 kilometres from Algeria across the Mediterranean up through Italy from Sicily to Lombardy.
The country’s network is quadrupled
The network of pipelines continues to spread throughout the country. In 1961 construction begins on two major pipelines in central and southern Italy. The first one transports gas discovered in the province of Chieti to Terni and Rome and the second one gas extracted in Basilicata to the Apulian coast. Ten years later, with an overall length of 8,000 kilometres, the gas transmission network extends over the whole peninsular. In 1974, Siberian gas arrives at Sergnano (Cremona) and the commissioning of the 830-kilometre pipeline enabling importat from Groningen (Netherlands) is carried out. In 1980 the pipeline network of Snam reaches an overall length of round 15,000 km.
Italy’s conversion to methane
Italy’s conversion to methane
During the war, natural gas becomes a crucial to Italy’s energy need. A huge amount of steel, despite a high demand by the war industry, is used to build the first pipeline bringing gas from the wells of Salsomaggiore (Parma) to Lodi and Milan. The pipeline network covers a total of 257 kilometres in 1948, rising to more than 700 by 1950, 2,000 in 1952 and 4,600 in 1960, mainly in the Po Valley.
30 OCTOBER 1941
Snam is founded
The story of Snam begins on 30 October 1941: the ‘Ente Nazionale Metano’ (formed in 1940), along with AGIP, ‘Regie Terme di Salsomaggiore’ and the ‘Società Anonima Utilizzazione e Ricerca Gas Idrocarburati’ (Surgi) give life to the ‘Società Nazionale Metanodotti’ (Snam) for the construction and operation of pipelines and the distribution and sale of gas. The company’s share capital is three million liras.
26 October 2016 - 11:45 CEST