Last update: February 19, 2010

Snam Rete Gas

Snam Rete Gas

Snam Rete Gas is the leader in the transport and dispatching of natural gas in Italy. For sixty years the company has planned, built and managed an extensive system made up of a network of methane pipelines extending over 31,500,000 kilometres, a Dispatching Centre, 8 Districts, 55 Centres, and 11 Compression Stations. Snam Rete Gas on 30 june 2009 completed the acquisition of Italgas, the principal gas distributor in Italy which manages a network of methane pipelines extending over 40,000 km and more than 1,200 concessions, and also the acquisition of Stogit, the principal natural gas storage operator in Italy. Snam Rete Gas has been listed on the stock exchange since 2001, and transparent rules ensure that over 60 operators (shippers) entrust their gas to the company. The objective of Snam Rete Gas is the creation of value for investors and the community, while protecting the environment and respecting the social communities in which the company operates. Since its founding, Snam Rete Gas has adopted a system of governance that is in line with international best practices, and the company provides clear and transparent information to the market and to stakeholders. Over the next four years Snam Rete Gas will invest over 4 billion euro in developing the transport capacity of the network, to be ready to meet the growing energy requirement. It is a vast project requiring specially-developed technologies for safety, the environment and sustainability.

Geographical dispersion

In order to give secure and efficient service, Snam Rete Gas has operational units throughout the national territory covering specific geographic areas.

Main economic results of 2008

  • Operating profit:1,022 million euro (+8.0% over 2007adjusted)
  • Net profit: 530 million euro (+19.9% over 2007 adjusted)
  • Investments: 1,044 million euro (+43.4% over 2007).

A dividend of 0.23 euro per share (+9.5%) was proposed, of which an advance payment of 0.09 has already been distributed.

 

Shareholding structureShareholding structure

Snam Rete Gas has been listed on the stock exchange in Milan since December 2001. The share is included in the S&P/MIB index. The main shareholders are Eni (52.54%), institutional investors (31.52%), retail investors (8.51%), 5.46% of treasury shares, Bank of Italy (1.97%).

Gas transported

In 2008 the network transported 85.64 billion cubic metres of gas on behalf of over 70 shippers, with a daily import capacity of 320 million cubic metres. In four years the capacity will be over 340 million cubic metres per day, and will reach over 400 million cubic metres per day in 2015.
 
It is estimated that demand for gas in Italy will grow to approximately 94 billion in 2012 and, driven by consumption in the thermoelectric sector, this figure will increase to around 110 billion in 2020. On the basis of shipper’s requirements, the gas is then transported to 7,000 delivery points connected to local distribution networks and to major industrial users and power stations.

Investments

From 2001, the year when it was listed on the stock exchange, to 2008 Snam Rete Gas invested 5 billion euro in the network, increasing its transmission capacity by 50%. In its 2009-2012 Plan, Snam Rete Gas is investing a further 4.3 billion euro.

Governance and sustainability

Since its constitution, Snam Rete Gas has adopted a system of governance that is in line with international best practices. Our commitment to sustainable development contributes to creating value for our shareholders and the community, with due regard for the environment and social contexts. Specific organisational structures have been defined to strengthen and integrate our sustainability objectives. Since 2006, Snam Rete Gas has published a Sustainability Report to favour and encourage transparent dialogue with all its stakeholders