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Talgas S.p.A., together with its subsidiaries, engages in the distribution of natural gas in Italy. It operates through the following business segments: Gas Transmission and Distribution; Energy Trading; Storage and Forwarding; and Service Activities. The Gas Transmission and Distribution segment distributes natural gas via pipelines to end users, retailers, power plants, industries, and municipal utilities. The Energy Trading segment engages in wholesale trading activities in gas and derivatives on the gas wholesale market. The Storage and Forwarding segment provides storage services for customers involved in the supply of natural gas and oil derivatives through storage tanks at terminals located on owned sites.