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Technical investments

Technical investments in 2017 totalled €101 million, a decrease of €16 million (-13.7%) compared with the previous year (€117 million), and refer to the development of new fields and upgrading of capacity (€31 million) and maintenance and other investments (€70 million).

The main investments in the development of new fields and upgrading of capacity (€31 million) primarily concerned the following initiatives:

  • Minerbio Overpressures (€12 million) for construction activities related to installing the new TC7 compression unit;
  • Bordolano (€ 7 million) for environmental restoration and mitigation activities, additional engineering and other charges deriving from the modification of the work program requested by Stogit;
  • Sabbioncello Overpressure (€5 million), for completion of repowering of the TC2 compression unit, for the additional engineering activity linked to updating the documentation (relating to electrical systems) following the repowering of the turbo compressors and the regulations, for acquisition of capital spare parts for the TC2 compression unit and the main activities linked to commissioning it;
  • Fiume Treste Sviluppo (€3 million), for the purchase and replacement of two tanks for the collection of water to be treated.

The investments of maintenance and more (€ 70 million) mainly related to the reconstruction of wells 109 and 112 at Cortemaggiore (€ 16 million), the revamping project for the Cortemaggiore compression units (€ 6 million) and investments in new information systems (€7 million).

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 2017, including strategic storage, was 16.7 billion cubic metres (+0.2 billion cubic metres compared with 2016, made available by the new Bordolano deposit), of which 12.2 billion cubic metres related to available capacity fully allocated for the thermal year 2017-2018 (12.0 billion cubic metres in thermal year 2016-2017) and 4.5 billion cubic metres related to strategic storage (unchanged compared with thermal year 2016-2017, as established by the Ministry of Economic Development by means of the notice dated 25 January 2017).

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