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13 Short-term financial liabilities

Short-term financial liabilities of €1,503 million (€1,947 million at 31 December 2013) are denominated entirely in euros and relate to credit lines with banks (€1,496 million).

The reduction of €444 million is due mainly to the repayment of a short-term loan that had fallen due for a nominal amount of €600 million.

The market value of short-term financial liabilities is the same as their book value.

At 30 June 2014, Snam had unused uncommitted credit lines worth €134 million.

As at the same date,there were no breaches of loan agreements at the reporting date.

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