BAKU, Azerbaijan, January 25. Italian Snam plans to put some 11.5 billion euros in investments over 2023-2027 plan, Trend reports.
According to the plan, this is an increase of 15 percent, compared to the figure set for 2022-2026 plan.
Thus, the company will focus on two main areas: infrastructure and decarbonization levers.
Snam infrastructure projects entail the construction of the Adriatic backbone and dual-fuel compressor stations, as well as the reinforcement and optimization of the storage and export system.
Furthermore, the company is set to kick off the Ravenna FSRU, delve into small-scale LNG development, and expand the networks of LNG-bioLNG stations. Looking ahead, there are plans to introduce hydrogen stations into the mix.
The company plans to implement its decarbonization strategies via its energy transition platform, investing in the development of green gases like hydrogen and biomethane. Additionally, Snam will be spearheading the Italian and European hydrogen backbone project known as the SoutH2 Corridor. As part of its commitment, Snam is also working on building infrastructure for Carbon Capture and Storage (CCS), simultaneously expanding efforts in energy efficiency activities.
"We will invest 11.5 billion euros 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. We will achieve this while generating growing returns for all our stakeholders, with a comprehensive sustainability approach that combines our emissions reduction commitment with other key areas such as biodiversity and territorial regeneration," said Stefano Venier, CEO of Snam.