Technical investments

Technical investments in 2016 totalled €117 million, a decrease of €53 million (-31.2%) compared with the previous year (€170 million), and refer to the development of new fields and upgrading of capacity (€73 million) and maintenance and other investments (€44 million).

The main investments in the development of new fields and upgrading of capacity (€73 million) primarily concerned activities carried out in the fields of:

Bordolano: the execution phase of the project was completed, and the second part of the plant subsequently became operational;

Minerbio: acquisition of materials, preparatory activities for the installation of the TC7 unit, various station upgrades;

Sabbioncello: start of construction of the connection to well 51.

Maintenance and other investments (€44 million) relate primarily to the acquisition of phonometric devices at the Stogit plants, ICT activities, the supply of materials and the continuation of Cortemaggiore plant streamlining activities and activities carried out in the Fiume Treste fields.

Investment proportions by type (% of total investments)

Thanks to the significant investments made to develop new deposits and upgrade existing ones, Stogit exceeded the previous maximum quantity of gas deposits in its storage systems, thereby increasing its volume and peak capacity. Total storage capacity as at 31 December 2016, including strategic storage, was 16.5 billion cubic metres (+0.5 billion cubic metres compared with 2015, made available by the new Bordolano deposit), of which 12.0 billion cubic metres related to available capacity fully allocated for the thermal year 2016-2017 (11.5 billion cubic metres in thermal year 2015-2016) and 4.5 billion cubic metres related to strategic storage (unchanged compared with thermal year 2015-2016, as established by the Ministry of Economic Development by means of the notice dated 21 January 2016).