Technical investments

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Technical investments

 

2017

2018

2019

(*)

Compared with a pre-tax actual basic WAAC of 5.4%.

(**)

Compared with a pre-tax actual basic WAAC of 5.4% for 2018 an 5.7% for 2019, applied to investments in a new transport capacity and with a cost/benefit analysis of more than 1.5 pursuant to the ARERA resolution 575/2017/R/Gas.

Type of investment

Greater remuneration (%) (*)

millions of €

Type of investment

Greater remuneration (%) (**)

millions of €

millions of €

Development of new import capacity

2.0%

276

Development

1.0%

279

249

Development of the national network

1.0%

10

 

 

 

Development of the regional network

1.0%

97

 

 

 

Replacement and other

 

534

Replacement and other

 

485

564

 

 

917

 

 

764

813

Technical investments in 2019 amounted to €813 million, an increase of €49 million, or 6.4%, compared with 2018 (€764 million).

The investments were classified in accordance with Resolution 575/2017/R/gas with reference to 2018 and 2019 and 514/2013/R/gas for investments in 2017 whereby the Energy, Networks and Environment Regulatory Authority (hereinafter ARERA or the Authority) identified different categories of projects with different rates of return.

The main investments in new transport capacity Development (€249 million), for which a greater return of 1% is planned, mainly involve:

  • investments in the development of new transport capacity in the National Network function to the import and export capacity (€142 million) under the scope of transport network upgrading projects in southern Italy including, specifically, connection with TAP (€95 million) and the ongoing construction works for connection to the Massafra-Biccari pipeline (€13 million), the initiative supporting the market in the north-eastern part of the country and to allow the reversal of physical transport flows at the connection points with northern Europe in the area of the Po Valley (€32 million) due to the continuation of the complementary construction works for the Cervignano-Mortara pipeline and the Sergnano and Minerbio compression plants that came into service from October 2018;
  • Investments in the development of new transportation capacity in the Regional Network and the National Network (€107 million), including: (i) the works relating to the connection of Italgas Storage S.r.l. of Cornegliano Laudense; (ii) the continuation of the construction and connection works related to the gas conversion of the Calabria Region, including, specifically, the construction activity of the S. Andrea Apostolo-Caulonia pipeline; (iii) the continuation of the construction activities for certain biomethane and CNG connections; (iv) the completion of the complementary construction activities relating to the upgrading of the Gavi-Pietralavezzara pipeline;

Replacement investments and other investments with a basic rate of return12 (€564 million) relate mainly to: (i) works aimed at maintaining the security and quality levels of the plants (€418 million), some of the main ones being the “pipeline replacement” initiative (€126 million), including the ongoing delivery of materials and the start of construction activities for the reconstruction of the Ravenna-Recanati section of the Ravenna-Chieti pipeline (€49 million); (ii) projects relating to the development of new information systems, as well as the implementation of existing ones (€100 million); (iii) works recharged to third-parties (€19 million); (iv) the purchase of key operating assets (€18 million); (v) redelivery facilities upgrading projects (€6 million).

Progress of work to obtain permits

To develop new sites, in addition to the technical-economic feasibility criteria, Snam adopts procedures that respond to stringent environmental and safety compatibility assessments.

The assessments of environmental effects involve all phases of the work life cycle, site selection, planning, construction, operation and decommissioning. These assessments are made within the purview of the Environmental Impact Assessment (EIA) procedure and the procedures of the Integrated Environment Authority (AIA), at the end of which the central and local administrations issue the permits required under current law.

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EIA decrees obtained during the year

Name

Length (km)

Regions involved

Competent agencies

Date of decree

Pipelines

 

 

 

 

San Salvo-Biccari pipeline overhauling

87.000

Apulia

Ministry of the Environment and Protection of Land and Sea

08/11/2019

Overhauling of Mestre-Gonas pipeline and downgrading

80.200

Veneto-Friuli
Venezia Giulia

Ministry of the Environment and Protection of Land and Sea

05/11/2019

Overhauling of the Ravenna Mare-Ravenna Terra pipeline

25.980

Emilia-Romagna

Ministry of the Environment and Protection of Land and Sea

29/10/2019

Overhauling of the Campodarsego-Castelfranco Veneto pipeline

23.360

Veneto

Ministry of the Environment and Protection of Land and Sea

26/09/2019

Overhauling of the Pieve di Soligo-San Polo di Piave-Salgareda pipeline

34.700

Veneto

Ministry of the Environment and Protection of Land and Sea

05/09/2019

Gagliano Termini Imerese pipeline

38.340

Sicily

Ministry of the Environment and Protection of Land and Sea

06/03/2019

Overhauling of the Rimini San Sepolcro pipeline and associated works

91.915

Emilia-Romagna
and Tuscany

Emilia-Romagna Region

25/03/2019

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Integrated Environmental Authorisation decrees obtained during the year

Name

Length (km)

Regions involved

Competent agencies

Date of order

Pipelines

 

 

 

 

Variant crossing the Trigno River By-pass for Trivento-Agnone

0.977

Molise

Ministry of the Environment and Protection of Land and Sea

21/11/2019

By-pass for Altino 2nd Tronco Variant construction Secco River hydraulic works

0.07

Abruzzo

Ministry of the Environment and Protection of Land and Sea

02/04/2019

Tortona-Alessandria-Asti-Turin Overhaul FR 39.1

3.68

Piedmont

Ministry of the Environment and Protection of Land and Sea

06/03/2019

Variant for PIDI insertion no. 18.2 at Chieti-San Salvo (CH)

1.132

Abruzzo

Ministry of the Environment and Protection of Land and Sea

26/02/2019

Variants S. Eufemia-Crotone Overhaul of Anna River crossing (KR)

0.64

Calabria

Ministry of the Environment and Protection of Land and Sea

15/02/2019

Plants

 

 

 

 

HPRS IS64/24 bar Castellana Grotte system on Castellaneta-Castellana Grotte pipeline

 

Apulia

Ministry of the Environment and Protection of Land and Sea

16/01/2019

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EIA applications submitted to Ministry of the Environment and Ministry of Cultural Heritage

 

Length (km)

Regions involved

Date of submission

Pipelines

 

 

 

Variants S. Eufemia-Crotone Overhaul of Anna River crossing (KR)

0.64

Calabria

25/10/2019

All. BIO ECOAGRIM S.r.l. of Lucera

1.052

Apulia

13/06/2019

Sestri Levante-Recco pipeline

47.8

Liguria

23/05/2019

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Applications submitted to the Ministry of the Environment to check EIA requirements

Name

Length (km)

Regions –
Provinces involved

Date of submission

Pipelines

 

 

 

By-pass for Matera in the Municipality of Lauria

21.8

Basilicata

02/12/2019

Optimisation of the Recanati-Foligno Frazione Colfiorito layout

16.96

Marche-Umbria

28/10/2019

Benevento-Cisterna lowering variants

2.097

Campania

03/10/2019

Pessano-Calolziocorte variants

5.185

Lombardy

25/06/2019

Plants

 

 

 

Alessandria-Cairo Montenotte-Savona Trappole

 

Piedmont-Liguria

19/12/2019

12 For the investments of 2019, the basic rate of return includes the rate of return on net invested capital (real pre-tax WACC) of 5.7%.

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