BAKU, Azerbaijan, Nov.21
By Leman Zeynalova – Trend:
Italy’s Snam has forecast an increase in investments for the period 2019-2023, bringing them up to 6.5 billion euros, approximately 14 percent more than the 5.7 billion euros of the 2018-2022 plan, Trend reports referring to the company.
The growth compared to the previous plan is attributable both to the new energy transition businesses and to the increase in investments in replacements, said the company.
“In detail, 5.3 billion euros of the investments in the plan concern the transportation network, 0.8 billion euros refer to storage and regasification and 0.4 billion euros to the new businesses linked to the energy transition. The development initiatives refer to the completion of the infrastructure to connect TAP to the national network, the completion of connections in the North-West to serve the local market and cross-border flows, the network in Sardinia and the start of the conversion of six compressor stations and storage plants in gas-electric hybrids,” said Snam.
There are also plans to replace 1,000 km of pipelines over the period of the plan, with additional investments of 400 million euros compared to the previous plan: almost half of these works are currently already under construction or have received the VIA authorization.
Replacement initiatives are carried out on the basis of technical analyses of the condition of the asset, the hydrogeological context, and the technical characteristics of use, in line with the evolution of flows. The plan also includes investments of 140 million euros in grid connections linked to the energy transition (CNG and biomethane plants), up from 90 million euros forecast in the previous plan.
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