Snam (SRG) Status Update summary

Strategic context and energy landscape

• Energy markets remain volatile due to geopolitical factors, supply constraints, and the transition to renewables, with gas and clean molecules playing crucial roles for energy security and decarbonization.

• Infrastructure redundancy, diversification, and tech neutrality are prioritized to ensure supply security and support the shift to green and decarbonized molecules.

• EU policy targets significant growth in biomethane and carbon capture, with Italy positioned as a leader and key Med-EU energy bridge.

• Snam’s infrastructure is essential for meeting evolving energy demands, with high utilization rates projected through 2040 and adaptability for hydrogen and CCS.

Strategic vision and pan-European leadership

• Aims to become a pan-European multi-molecule infrastructure leader, focusing on gas, hydrogen, biomethane, and CCS.

• Multi-molecule strategy supports both natural gas and green molecules, ensuring adaptability to different energy transition scenarios.

• Strategic priorities include building a pan-European network, accelerating EPS growth, and maintaining high regulatory and policy alignment.

• By 2034, total investments are projected to reach EUR 27 billion, with an additional EUR 5 billion from associates.

Key achievements and asset base

• Expanded LNG and storage capacity, with 2,000 km of hydrogen-ready network and increased regasification and storage assets.

• Capital expenditure rose 56% since 2022, supporting security of supply and energy transition projects.

• Unique geographic position and comprehensive midstream value chain enable resilience and flexibility.

• Major projects include the Adriatic Line, Edison Stoccaggio acquisition, and expansion of LNG and storage capacity.