Italy's energy infrastructure company Snam plans to invest €11.5 billion by 2027 as part of its new strategic plan primarily focusing on infrastructure upgrades and decarbonization efforts, the company announced on Thursday.
The majority of the investment at €7.4 billion will be poured into transportation, including an upgrade to the Adriatic backbone—Italy's rail system—the rebuilding of roughly 900 kilometers of pipelines, the building of dual-fuel compressor stations, and the construction of connections to biomethane plants and Floating Storage and Regasification Units.
The strategic plan also covers storage site expansion, carbon capture and storage, hydrogen and energy efficiency initiatives.
The investment aims to develop a flexible infrastructure to support Italy’s carbon neutrality.
'Our energy security commitment continues, developing infrastructure for diversified and sustainable supply in the long term and supporting the transition process, also through strategic projects at the European level,' Snam's CEO Stefano Venier said.
By Basak Erkalan
Anadolu Agency
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