BAKU, Azerbaijan, Nov.26
By Leman Zeynalova – Trend:
Italian Snam’s new capex plan for 2020-2024 envisages an increase in investments of almost € 1 billion compared to the € 6.5 billion of the 2019-2023 plan, bringing them to approximately € 7.4 billion in the 2020-2024 period, Trend reports citing the company.
“Compared to the previous plan, the growth is attributable both to the core business of regulated infrastructures (€ 6.7 billion in investments) and to the new activities of the energy transition (over € 0.7 billion in investments, almost doubled compared to the previous plan). 50 percent of the investments in the plan is dedicated to a “hydrogen-ready” infrastructure (replacement and development of new assets with hydrogen-ready standards). Most of the investments envisaged in the plan are aimed at decarbonisation to achieve the carbon neutrality goal by 2040 and seize the opportunities offered by the energy transition,” said the company.
Approximately 40 percent of the plan investments are aligned to the European taxonomy criteria under finalisation.
“The investments in the infrastructure mainly concern replacements for the modernization of the grid, also in a “hydrogen ready” perspective, for almost 1,200 km. The start of the conversion of eight compression stations into gas/electric hybrid is also planned, as is the construction of the virtual pipeline in Sardinia and the first sections of the network. The investment plan also provides for new connections linked to the energy transition (245 CNG/LNG plants and 50 biomethane plants), in sharp increase compared to previous years, and another 100 connections to the grid,” said Snam.
With regard to investments for the adaptation of the infrastructure in a “hydrogen ready” perspective, Snam said today more than 70 percent of the pipes are ready to transport hydrogen and standards have been defined for the purchase of exclusively “hydrogen ready” components.
---
Follow the author on Twitter: @Lyaman_Zeyn