Jan 20 (LNGJ) - Italy’s Societa Nazionale Metanodotti (National Pipeline Company), also known as SNAM, plans to invest €10 billion ($10.8Bln) in natural gas pipelines and LNG facilities in its revised budget through to 2026. SNAM said €6.3Bln would go on pipelines, including upgrading the Adriatic Line. A further €1.4Bln would be spent on two LNG floating storage and regasification units (FSRUs) and €1.3Bln would go on expanding and upgrading gas storage sites.
“Within a backdrop of extreme uncertainty and volatility, Snam has succeeded in guaranteeing maximum support to cope with the emergency, creating the basis for the necessary actions to tackle the near future,” said Stefano Venier, Chief Executive. “We will significantly increase investments compared to the past to strengthen our infrastructure and contribute to the country's greater energy security for the next few years and beyond,” added Venier.
