|Bid||4.5370 x 392800|
|Ask||4.5550 x 390800|
|Day's Range||4.5490 - 4.5490|
|52 Week Range||4.2850 - 5.2280|
|Beta (5Y Monthly)||0.58|
|PE Ratio (TTM)||20.68|
|Forward Dividend & Yield||0.28 (6.11%)|
|Ex-Dividend Date||Jan 22, 2024|
|1y Target Est||N/A|
A project by Italian gas grid Snam and energy group Eni to capture carbon dioxide and store it in depleted gas fields can help decarbonise businesses both in Italy and in southern European industries, Snam CEO Stefano Venier said. Speaking in the Italian city of Ravenna where the new carbon capture and storage (CCS) hub will be based, Venier said the French high-polluting groups - like cement and steel makers - could find it more convenient to store their carbon dioxide (CO2) in the Italian hub than transport it to Norway where there are some CCS sites already functioning.
Italy is in preliminary talks with Bavaria's government to supply gas and hydrogen to the southern German state, and also aims to sell energy to Austria and Hungary, four Italian and German industry and political sources told Reuters. The conservative government of Giorgia Meloni has laid out plans to turn Italy into an energy gateway between Europe and Africa, capitalising on demand from neighbours seeking to reduce their dependence on Russian gas.
Italian gas grid operator Snam on Thursday confirmed its targets for this year after reporting a 13% year-on-year rise in revenue for the first quarter. Gas demand in Italy in the first quarter of 2023 amounted to 20.5 billion cubic metres (bcm), down 19% year-on-year due to lower consumption in all sectors that Snam operates in. Snam said the most recent estimates on the evolution in gas demand in Italy for 2023 were in line with 2022, when the country consumed 69 bcm.