Section I - Company Introduction
MISSION
Snam is one of Europe’s leading companies in the creation and integrated management of natural gas infrastructure. It seeks to implement the right conditions for energy to be provided at a fair cost through efficient management of the gas system, the development of infrastructure and the provision of integrated services for the market. It also promotes the integration of European networks through strategic partnerships with the biggest operators in the sector along the continent’s main energy corridors.
Snam follows an ethical and socially responsible business model that is capable of creating value both for the Company and for the communities in which it operates, whilst also respecting the environment and the local area, through renowned expertise and transparent dialogue with all stakeholders.
A clear, sustainable development strategy based on one of the largest corporate investment plans in the country allows the Company to attract capital both from within Italy and from overseas, thereby facilitating growth and employment.
With a workforce of 6,000, Snam is active in the transportation, storage, regasification and distribution of natural gas. It manages a national transportation network of over 32,000 km, eight storage sites, one regasification plant and a local distribution network of over 52,000 km.
Snam is constantly committed to maintaining and strengthening a corporate governance system in line with the standards of international best practice and able to handle the complex situations in which the Company operates and the challenges to be faced in achieving sustainable development.
INTRODUCTION
This report (the “Report”) provides, pursuant to Article 123-bis, paragraphs 1, 2 and 3 of Legislative Decree No. 58 of 24 February 1998, information – for the 2013 financial year unless otherwise expressly stated – on the corporate governance system and ownership structure of Snam S.p.A. and on its compliance with the Code of Corporate Governance for Listed Companies set out by the Corporate Governance Committee.
The Report consists of four sections, which aim to provide the following information:
- Section I - Company Introduction;
- Section II - Description of the ownership structure;
- Section III - Structure of the corporate governance system adopted by the Company;
- Section IV - Summary tables.
The Report was drawn up taking into account the format for the Report on Corporate Governance and Ownership Structure set out by Borsa Italiana (4th edition, dated January 2013), which is available at www.borsaitaliana.it/borsaitaliana/regolamenti/corporategovernance/formatpercg2013.pdf.