Italy Snam to Invest 14 Billion Euros in Gas Grid by 2030
Snam plans to invest 14 billion euros in gas infrastructure through 2030 as demand grows. The group also reported a 10.3 percent rise in annual net profit.
The major gas grid operator in Italy, Snam S.p.A., has announced a strategic plan to invest 14 billion euros ($16 billion) over the next five years. This capital allocation, which extends through 2030, will focus heavily on the country's gas infrastructure, including storage assets and liquefied natural gas (LNG) terminals.
Under the leadership of its new Chief Executive Officer, Agostino Scornajenchi, the group is pursuing a strategy that includes the divestment of non-core assets valued at 1.6 billion euros. Simultaneously, the company is eyeing potential selective acquisitions worth approximately 1.2 billion euros to strengthen its market position.
