Italian gas company Snam has unveiled plans to invest €11.5bn ($12.51bn) in the country’s gas and liquefied natural gas (LNG) infrastructure by 2027.
The plan forms part of the company’s wider strategy to achieve net-zero emissions by 2050.
Snam said the main objective of the latest plan is to address energy security, sustainability and competitiveness by providing infrastructure that supports these elements.
The total investment of €11.5bn, net of public grants of around €900m, marks a 15% increase compared with the 2022–26 plan.
The investments will target infrastructure across the value chain, including the construction of the Adriatic backbone, dual-fuel compressor stations, and the enhancement of storage and export systems.
The plan also includes the development of energy transition businesses such as carbon capture and storage (CCS); strengthening transport, storage and LNG infrastructure; and developing a European hydrogen network.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
Snam CEO Stefano Venier said: “We will invest €11.5bn to develop an increasingly flexible infrastructure capable of handling a multiplicity of molecules, thus supporting the carbon neutrality pathway for Italy.
“Our energy security commitment continues, developing infrastructure for diversified and sustainable supply in the long term and supporting the transition process, also through strategic projects at the European level.”
Investments will also be made in decarbonisation levers through the energy transition platform.
These include the development of green gases such as hydrogen and biomethane, the launch of the Italian and European hydrogen backbone project (SoutH2 Corridor), infrastructure for CCS and the expansion of energy efficiency activities.