Introduction
Values and Mission
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, while 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. In Italy, it manages a national transportation network covering over 32,000 km, nine storage sites, one regasifier and a local distribution network that covers a total of approximately 57,000 km.
Introduction
This report (the “Report”) provides information – for the 2015 financial year unless expressly indicated otherwise – on the corporate governance system and ownership structure of Snam S.p.A.1.
The Report consists of four Sections, which aim to provide the following information:
- Section I - Presentation of the Company;
- Section II - Information on 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 describes the key components of the corporate governance system.
The Report was drawn up in consideration of:
- the document “Report on corporate governance of Italian listed companies 2015” of Consob;
- the 2015 report “Corporate Governance in Italy: Compliance, Remunerations and Quality of the Comply-or-Explain” of Assonime;
- the Final Report 2015 of “L’Osservatorio sull’Eccellenza dei Sistemi di Governo in Italia” realized by The European House – Ambrosetti;
- the format for the Report on Corporate Governance and Ownership Structure set out by Borsa Italiana (5th edition of January 2015), which is available at: http://www.borsaitaliana.it/.
The Report is published on the section “Governance and Conduct” of the Company’s website.
1 Pursuant to Article 123-bis, paragraphs 1, 2 and 3 of Legislative Decree No 58 of 24 February 1998.
