Italian gas transmission group Snam plans to invest €5.2bn over the 2017-2021 period, up 10% compared to the previous plan unveiled in March 2017 (€4.7bn). The group will invest €4.6bn in the development of its gas transmission network in Italy, including the development of the transportation network in Sardinia, the connection with the Trans-Adriatic (TAP) gas pipeline, the completion of reverse-flow and other non-regulated technical investments. In addition, Snam will invest €0.6bn in increasing its gas storage capacity (carried out by Stogit), in regasification infrastructure (Panigaglia LNG terminal) and in the maintenance and replacement of 650 km of transport sections. Snam will invest around €360m in improving its energy efficiency and cutting its methane emissions by 10% over the 2016-2021 period.
In 2017, Snam's revenue grew by 1.1% to more than €2.4bn. In 2017, the group transported 75 bcm of gas (+6% on 2016) and operated 12.2 bcm of storage capacity (+0.2 bcm compared to year-end 2016), which is almost entirely allocated for the thermal year 2017-2018.
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