Section I - Presentation of the Company
CORPORATE MISSION AND VALUES
Snam is Europe’s leading operator in the creation and integrated management of natural gas infrastructure. It facilitates the conditions for fair-priced energy by efficiently managing the gas system, developing infrastructure, and offering integrated services for the market. It promotes the integration of European networks, including through strategic partnerships with major operators in the sector along the continent’s main energy corridors.
Snam follows an ethical and socially responsible business model that is capable of generating value for both the company and the community in which it operates, based on renowned professionalism and transparent dialogue with all stakeholders, whilst respecting the environment and the local area.
A clear and sustainable development strategy based on one of the biggest industrial investment plans in the country allows the Company to attract capital from both Italy and abroad, thus promoting growth and job creation.
With over 6,000 employees, Snam is active in natural gas transportation, storage, regasification and urban distribution. It manages a national transportation network of over 32,000 km, eight storage sites, one regasification terminal and a local distribution network covering more than 55,000 km in total.
Snam is constantly committed to maintaining and enhancing a corporate governance system that is in line with national and international best practice. This system is able to manage the complex situations in which the Company has to work and the challenges it must face in adopting a clear and sustainable development strategy.
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 2014 financial year if not expressly indicated otherwise – on the corporate governance system and ownership structure of Snam S.p.A. and on its compliance with the Corporate Governance Code 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 - Presentation of the Company;
- 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 is preceded by an “Executive Summary” that provides the main elements that characterize the corporate governance system.
The Report was drawn up in consideration of the format for the Report on Corporate Governance and Ownership Structure set out by Borsa Italiana (5th edition, dated January 2015), which is available at http://www.borsaitaliana.it (PDF).
