in 2030 the first EU hydrogen network (2,700 km long) – Corriere.it

in 2030 the first EU hydrogen network (2,700 km long) – Corriere.it
in 2030 the first EU hydrogen network (2,700 km long) – Corriere.it

Snam will invest 23 billion to transform itself from a gas network company into an energy and green infrastructure company, capable of transporting biomethane, hydrogen and carbon dioxide where necessary, as well as natural gas, announces the CEO Marco Alver. Illustrating the new 2021-2025 strategic plan and the vision to 2030, the manager claims a leading role in the green transition for the group he has led since April 2016. With the aim of supporting the achievement of net zero emissions, as signed by 197 countries in the world at the last Cop26 in Glasgow, a goal that Snam aims to achieve in 2040, raising the cut in methane emissions from 45 to 55% by 2025 and with targets for emissions reductions, the first company in Europe, also for subsidiaries and suppliers (Scop3) to 2030.

Three macro areas of activity

With the plan to 2025 and the vision to 2030, the evolution of Snam continues and accelerates, which in the last 6 years has started the conversion of its infrastructures, strengthened international development and launched new startups in the energy transition, says Alver. He explained that the group will gradually focus on three macro areas of activity: transport, storage and new projects in hydrogen and biomethane.

In particular, not only are 99% of Snam’s methane pipelines capable of transporting 100% hydrogen mixtures today, but Snam will build the first European hydrogen backbone. 2,700 kilometers long from South to North by 2030, with 3 billion investments, to make Italy a Mediterranean hub towards Europe. Also thanks to the acquisition from Eni of 49.9% of two gas pipelines linking North Africa to Sicily, to carry Algerian gas.

The ambition to build the first Italian giga-factory

To accelerate storage and finance new green projects, out of the 23 billion expected in the next 9 years, 8.1 billion will be invested by 2025, about 700 million more than the last strategic plan, with respect to which all the indicators are in growth, with a net profit increasing by 3% on average per year between 2022 and 2025 and an average Ebitda of 4.5% per year, while the average annual growth in Ebitda from 2022 to 2030 is estimated to rise by 6 -8% annual average. Numbers that allow the extension to 2025 of a dividend policy defined as generous by the top manager (+ 2.5% minimum growth). Alver also confirms that the new plan assumes in 2022 the listing on the stock exchange of De Nora, the company active in electrolysers, of which Snam owns 35.6% of the capital and which has the ambition to build an Italian giga-factory for the green hydrogen production.

Source

hydrogen network long Corriereit

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