Snam to invest 3.7 bln euros in Italy’s gas network

Snam will invest 3.7 billion euro in the national gas network to improve transport facilities from the south to the north of the country and boost supply from Africa. CEO Stefano Venier said the project to build the socalled Adriatic pipeline would be completed by 2027. Recently, the government has leveraged long-standing relationships to secure more gas from Algeria and Egypt to replace part of the gas it was sourcing from Moscow. Rome authorities also mandated Snam to buy two new floating terminals for liquefied natural gas (LNG) imports and asked the group to help to fill the country’s gas storage tanks.