Snam S.p.A. (SNM.F)
- Reuters
VTTI to control Italy's biggest LNG terminal, Snam to get 30%
MILAN (Reuters) -Energy storage group VTTI will get a 70% stake in Italy's biggest liquefied natural gas (LNG) terminal, with grid operator Snam owning the rest, the Milan-listed group said late on Wednesday, announcing a deal to be finalised by year-end. Snam, which is controlled by the Italian government, said in a statement it had exercised its pre-emption right to up its stake in the terminal dubbed Adriatic LNG to 30% from 7.3%. The move comes after ExxonMobil and QatarEnergy last week agreed to sell their stakes in the terminal to a consortium led by Dutch group VTTI.
- Reuters
CORRECTED-UPDATE 1-VTTI to control Italy's biggest LNG terminal, Snam to get 30%
Energy storage group VTTI will get a 70% stake in Italy's biggest liquefied natural gas (LNG) terminal, with grid operator Snam owning the rest, the Milan-listed group said on Wednesday, announcing a deal to be finalised by year-end. Snam, which is controlled by the Italian government, said in a statement it had exercised its pre-emption right to increase its stake in the infrastructure dubbed Adriatic LNG to 30% from 7.3%. The move comes after ExxonMobil and QatarEnergy last week agreed to sell their stakes in the terminal to a consortium led by Dutch group VTTI.
- Reuters
Italian gas grid operator Snam to invest 11.5 billion euros by 2027
MILAN (Reuters) -Italy's Snam will invest 11.5 billion euros ($12.5 billion) by 2027 to expand its infrastructure to support the country's energy transition, 15% more than in its previous business plan, the gas network operator said on Thursday. In its new strategy, the state-controlled group will focus on the construction of a new pipeline and the completion of liquefied natural gas (LNG) infrastructure. It will also invest in energy transition businesses including a carbon capture and storage hub and the development of a European hydrogen network.
