Management’s priorities are to develop significant new gas infrastructure in Italy in order to improve supply security, flexibility and service quality throughout the gas system, which is necessary to create conditions for developing a gas hub.
The most recent forecasts for the evolution of natural gas demand in Italy show moderate annual growth between 2012 and 2015, mainly as a result of the expected increase in the thermoelectric sector.
Snam is going ahead with a significant investment plan involving a total of around €6.7 billion at group level for the years 2012 to 2015. The main investment plan guidelines for the company’s business segments are as follows:
- satisfy requirements linked to medium- and long-term growth in demand for gas and increase the flexibility and safety of the gas transportation system in Italy;
- continue to improve the quality of the transportation service;
- contribute to the development of a European gas hub;
- develop the gas balancing market.
Over the period in question, the planned investments should allow the company to extend the total length of the transportation network (32,010 km in 2011) by around 3% and to increase the installed power in the compression stations by around 4% (884 Megawatts in 2011).
Investments in 2012 are expected to be in line with those for 2011.
- improve the overall safety and flexibility of the system by increasing the storage and delivery point capacity;
- optimise balancing and promote the liquidity of the gas system in Italy.
The projects included in the plan will deliver an increase in storage capacity of about 30% over the period in question (10 billion standard cubic metres in 2011) and an increase of around 14% in delivery point capacity (271 million standard cubic metres in 2011).
- selectively manage the portfolio of concessions in order to maximise profitability;
- continue to improve the level of safety, reliability and quality of the service;
- continue to encourage the rising number of end users.
The planned interventions will allow the company to continue to support the development of the business by increasing the number of customers in 2015 by around 8% compared to 2011 (5.9 million customers in 2011).
Snam will continue to pay attention to operating efficiency in 2012 through initiatives designed to keep emerging costs under control, notably the reorganisation of the group which took place in 2011.