Snam, the Italian gas network operator, has announced an increased investment of $12.5 billion (€11.5 billion) by 2027, a 15% boost from its prior business plan, to bolster infrastructure in support of the energy transition in Italy.
The new strategy, announced by Snam on Thursday, emphasizes the construction of a new pipeline, the finalization of liquefied natural gas (LNG) infrastructure, and investments in energy transition initiatives such as a carbon capture and storage hub.
Additionally, the state-controlled company will contribute to the development of a European hydrogen network.
CEO Stefano Venier highlighted the commitment, stating, “We will invest 11.5 billion euros to develop an increasingly flexible infrastructure, thus supporting the carbon neutrality pathway for Italy.”
Part of the investment will be directed towards the Adriatic Line, a new pipeline designed to enhance gas transportation capacity from southern Italy to the industrialized north and beyond, with hydrogen-readiness for potential inclusion in the SoutH2 network connecting Africa to northern Europe.
Collaborating with energy major Eni (BIT: ENI), Snam is actively involved in establishing a carbon capture and storage hub offshore Ravenna.
Importantly, the company has incorporated a commitment in its plan to achieve net-zero emissions across all fronts by 2050.