Snam

Snam S.p.A. is an Italian energy infrastructure company.[4] As of 31 December 2018, it had a market capitalization of €12.6 billion.[2] Snam was originally a subsidiary of Italian energy company Eni. It has since become an independent company, whose largest shareholder is CDP Reti, a holding company controlled by the Italian state. The utility operates in Italy and, through associated companies, in Austria, France, United Kingdom,[5] in Albania (AGSCo), Austria (TAG and GCA), France (Terēga), Greece (DESFA) and the United Kingdom (Interconnector UK). It is one of the main shareholders of TAP (Trans Adriatic Pipeline).[6] Snam is one of Europe's main regulated gas companies - leading Italy in gas transport and storage, while ranking third in regasification.[3]

Snam S.p.A.
Società per Azioni
Traded asBIT: SRG
ISINIT0003153415 
IndustryGas industry
FoundedOctober 30, 1941 (1941-10-30)
Headquarters
San Donato Milanese
,
Italy
Key people
Luca Dal Fabbro (Chairman)
Marco Alverà (CEO)[1]
ServicesNatural gas transmission, storage and regasification
Revenue€2,586 million (2018)[2]
adjusted €1,405 million (2018)[2]
adjusted net profit: €1,010 million (2018)[2]
OwnerCDP Reti (28.98%)
Number of employees
3,016 (2018)[2]
SubsidiariesStogit
Snam Rete Gas
GNL Italia[3]
Websitewww.snam.it

History

Snam was founded on 30 October 1941 in San Donato Milanese, Lombardy, with the name Società Nazionale Metanodotti.

On 1 June 2001, it changed its name to Snam Rete Gas. It has been traded on the Borsa Italiana since 6 December 2001.[7] On 1 January 2012, it was renamed with the original name of Snam.[7]

In April 2019, Snam launched the first injection of a hydrogen and natural gas into the pipeline, the Europe’s first commercial test of a hydrogen-methane blend in a high-pressure network.[8]

Subsidiaries

Snam has following subsidiaries:[3]

  • Snam Rete Gas S.p.A.: the transmission system operator for natural gas;
  • Stogit S.p.A.: storage of natural gas;
  • GNL Italia S.p.A.: for the regasification of liquefied natural gas.
  • Snam4Mobility: promotes the development of natural gas in the form of CNG (compressed natural gas), LNG (liquefied natural gas) and biomethane (100% renewable gas) as a clean, efficient and competitive fuel for light and heavy vehicles. It controls Cubogas (100%)[9]
  • Snam 4 Environment: promotes biogas and biomethane infrastructures development through its subridiaries Renerwaste,[10] (83%), IES Biogas (70%)[11] and Enersi Sicilia (100%)[12]
  • TEP Energy Solution (82%): one of Italy’s leading enterprises in the energy efficiency sector[13]

Shareholders structure
As of Aug 2019[14]
Shareholder Stake
CDP Reti 28.98%
Romano Minozzi 4.37%
CDP Gas 1.12%
Other shareholders 65.53%

Board of directors

Appointed by the Shareholders’Meeting on April 2019 [1]

Role Name and surname
Chairman Nicola Bedin
Chief Executive Officer Marco Alverà
Director Laura Cavatorta
Director Francesco Gori
Director Antonio Marano
Director Yunpeng He
Director Francesca Pace
Director Rita Rolli
Director Alessandro Tonetti

Sustainability

Snam's approach to sustainability is based on Shared Value,[15][16] a concept elaborated by Michael E. Porter in collaboration with Mark R. Kramer that explores the link between a company and its environment and their mutual interdependence.[17] In order to create Shared Value, Snam promotes sustainable development and ESG (Environment, Social, Governance) factors integration[18] along its entire transport, dispatchment, regasification, storage and distribution process.[15] Snam adopts an ESG Committee, made up of independent members of the board with advisory function on the link between corporate performance and environmental, social and governance factors.[19]

In 2009 [20] the company joined the United Nations Global Compact [21] and since 2006 has published a sustainability report in accordance with the Global Reporting Initiative's guidelines.[22][23] Since 2015 Snam also has published an Integrated Report, inspired by International Integrated Report Council (IIRC) principles,[24] inside the Annual Report, and since 2018 Snam has published the Non Financial Statement according Italian Dlgs. 254 still inside Annual Report.[25] Moreover, Snam has adhered to the Task Force on Climate-related Financial Disclosures (TCFD) in 2018 and published its first document about Climate change, “Snam for the future”.[26]

Snam operates within the reference framework of the United Nations Universal Declaration of Human Rights, the Fundamental Conventions of the ILO and the OECD Guidelines on Multinational Enterprises.[27]

Its commitment towards the environment focuses on the reduction of greenhouse gas emissions and safeguarding biodiversity.[28] Among its social initiatives, Snam partners with Legambiente [29] and Federparchi [30] and, in 2012, joined the Sodalitas Foundation, which seeks to build bridges between the entrepreneurial world in Italy and the non-profit sector.[31]

In 2017 Snam established its corporate foundation – Fondazione Snam - with the aim of contributing to the social, cultural and economic growth of areas affected by Snam's activities or marked by social inequality.[32]

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See also
  • Società Sportiva Metanopoli
  • Terna Group - the main electricity grid owner in Italy, responsible for high voltage electricity transmission and dispatching nationwide
  • Enagás - Technical Manager of the Spanish gas System and the main carrier of natural gas
  • Red Eléctrica de España (REE): manages the Spanish transmission grid and acts as sole transmission agent; it is also the System Operator
  • National Grid (UK): operates in the regulated businesses of transmission and distribution of electricity and gas mainly in the United Kingdom and northeastern United States

References
  1. "Snam Website". Retrieved 30 August 2019.
  2. "Annual Report 2018" (PDF). Snam.
  3. "Annual Report 2016" (PDF). Snam.
  4. "Accenture and Snam: Launch of a Collaboration in IOT Technologies For the Innovation and Sustainability of Energy Networks".
  5. "Reuters - Italy's Snam plans to unblock France-Spain gas bottleneck". Retrieved 19 August 2016.
  6. "Snam profile".
  7. "History".
  8. "The CEO Who Wants Italy to Love Hydrogen Power".
  9. "Cubogas".
  10. "Snam plan 2019-2023".
  11. "ies biogas".
  12. "Enersi".
  13. "TEP Energy Solution".
  14. "Shareholder". BorsaItaliana.
  15. "Snam - Sustainable Development".
  16. "Snam - Shared Value".
  17. "Article: Creating Shared Value - Harvard Business Review".
  18. "Hydrogen challenge".
  19. "Comitato sui temi ambientali" (in Italian).
  20. "Snam - Snam and Global Compact".
  21. "United Nations Global Compact".
  22. "Snam - Sustainability Report".
  23. "Global Reporting Initiative".
  24. "Snam Annual report" (PDF).
  25. "Consolidated Non-Financial Statement" (PDF).
  26. "Snam climate change 2018" (PDF).
  27. "Snam - Social Area".
  28. "Snam - Climate Change and Biodiversity".
  29. "Snam - Snam and Legambiente".
  30. "Snam and Federparchi".
  31. "Snam with Sodalitas".
  32. "Fondazione Snam".
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