Snam Rete Gas institutional investors tour the Messina compressor station and the Montalbano-Messina pipeline
San Donato Milanese, 23 October 2007 - Italian and international institutional investors of Snam Rete Gas will visit the Messina compressor station and the Montalbano Messina pipeline in Sicily tomorrow. They will also meet Carlo Malacarne, the company’s CEO, at the company’s headquarters in Milan this afternoon.
During this site visit, Snam Rete Gas management will outline how these two projects will improve the company’s infrastructure and ability to import gas from North Africa. Management will also provide a summary of the development plans for the company and network as a whole. This will include an overview of the national gas pipeline network, demonstrating the new technologies installed in the compressor stations, how they will improve efficiency and safety, and how they meet environmental and sustainable development best practice.
Carlo Malacarne, CEO, commented: “In all its activities Snam Rete Gas focuses on research and innovation in order to achieve technological excellence, which improves the safety and the efficiency of the transmission network. This focus is also aimed at reducing the company’s environmental impacts and meeting its commitment to sustainable development.�?
The Snam Rete Gas transportation network consists of 8,500-km of national pipelines, 22,400-km of regional pipelines and 10 compressor stations. It is remotely controlled and adjusted in real time by the Dispatching Centre in order to distribute correct amounts of gas along any part of the network at any time.
Carlo Malacarne, CEO, will detail the company’s plans to increase investment from IPO (3 billion euro over 2001-2006) up to an expected 4.2 billion euro over the 2007-2010 period. He will also outline the company’s plans for substantial capex levels beyond 2010 to ensure that the network will have the capacity to meet the anticipated growth in gas consumption.
Today, the primary network transports 88 billion cubic metres of gas per year, with a daily capacity of 290 million cubic metres. In four years it is expected that this capacity will exceed 340 million cubic metres per day and will reach over 400 million cubic metres per day in 2015. The number of shippers operating on the network has risen from approximately 20 in 2001 to the current 56.
Snam Rete Gas carries out infrastructure planning aimed at guaranteeing the availability of transport capacity required by shippers that will satisfy the growing need for natural gas over the next few years. The company estimates that consumption in 2010 will reach 95 billion cubic metres, rising to 106 billion cubic metres in 2015.
Carlo Malacarne, CEO, will also reiterate that the company’s ability to create value is underpinned by:
- developing transport networks;
- growth in transported volumes;
- increased operating efficiency;
- financial efficiency.
“Snam Rete Gas enjoys strong business fundamentals. We have a strong and consistent strategy that provides high long term earnings visibility�?,commented CEO Carlo Malacarne.
The company distributed an ordinary dividend for 2006 of 0.19 euro/share, which is expected to increase annually by approximately 11% over the 2007-2008 period. Furthermore, starting from the fiscal year 2007, Snam Rete Gas will distribute an interim dividend. The amount for 2007 will be 0.08 euro/share, as resolved by the Board of Directors in approval of the H1 results.
The infrastructure planning and construction process is aided by the company’s expertise in the design and construction of large transportation networks. It is also supported by its research and use of the most advanced technologies for the excavation and laying of natural gas pipelines and by environmental recovery of the areas used.
Snam Rete Gas recognises that a company’s success is gauged on a combination of economic, environmental and social factors that take into account the needs of the general public and investors. Accordingly, the company is committed to creating value for its shareholders and the community, with proper regard for the natural and social environments in which it works.
Investor Relations Snam Rete Gas
Tel.: +39 02.520.38272 - Fax: +39 02.520.3865
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Relazioni Esterne Snam Rete Gas
Tel.: +39 02.520.58691 - Fax: +39 02.520.38227
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Ufficio Stampa Eni
Tel.: +39 02.520.31875 - +39 06.5982398
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This Press Release is also available on the www.snamretegas.it web-site.
Snam Rete Gas has been listed on the stock exchange since 6 December 2001, and its shares are
included in the S&P/MIB indices of the top 40 Italian shares with market capitalisation of over
8 billion euro. Eni S.p.A. is the leading shareholder, with a share of 50.05%, while institutional
investors hold around 30% of the capital and are distributed among the United Kingdom and Ireland
(about 6%), Italy (3%), the USA and Canada (6%), Continental Europe (15%) and the rest of the
world. Individual shareholders hold approximately 9% and are primarily located in Italy. Snam Rete
Gas holds treasury shares in portfolio for around 10% of the share capital.
05 August 2016 - 16:18 CEST