Statements from management

Certification of the consolidated financial statements pursuant to article 154-bis.5 of Legislative Decree no. 58/98 (Testo Unico della Finanza)

  • 1. The undersigned Carlo Malacarne and Antonio Paccioretti, as CEO and manager in charge of accounting records at Snam Rete Gas S.p.A., certify, taking into account Article 154-bis, paragraphs 3 and 4 of Legislative Decree no. 58 of 24 February 1998:
    • the adequacy, considering the group’s characteristics, and
    • effective implementation
      of the administrative and accounting procedures for the preparation of the consolidated financial statements during the course of 2010.
  • 2. The administrative and accounting procedures for the preparation of the consolidated financial statements at 31 December 2010 were defined and their adequacy was assessed using the rules and methods in line with the Internal Control Integrated Framework model issued by the Committee of Sponsoring Organisations of the Treadway Commission, which represents a benchmark framework for the internal control system generally accepted at international level.

    In this regard, it is pointed out that, following the centralisation of staff services and some Italgas, Stogit and GNL Italia operating activities within Snam Rete Gas with effect from 1 April 2010, the administrative and accounting procedures of the companies of the Snam Rete Gas group have been adapted to the new organisational structure.
  • 3. It is also certified that:
    • 3.1 The consolidated financial statements at 31 December 2010:
      • a) were prepared in accordance with the applicable international accounting standards recognised in the European Community pursuant to EC Regulation no. 1606/2002 of the European Parliament and of the Council of 19 July 2002;
      • b) are consistent with the accounting records and ledgers;
      • c) are suitable to provide a true and fair view of the financial position, results of operations and changes in cash flows of the issuer and of the companies included in the consolidation scope;
    • 3.2 The Directors’ report includes a reliable analysis of the operating performance and results, as well as the situation of the issuer and of all the companies included in the consolidation scope, together with a description of the principal risks and uncertainties to which they are exposed.

2 March 2011


/Signature/Carlo Malacarne /Signature/Antonio Paccioretti
Carlo Malacarne
Chief Executive officer
Antonio Paccioretti
Director of Planning, Administration, Finance and Control