Italy's Snam (SRG.MI), opens new tab plans to invest 14 billion euros ($16 billion) in the next five years, focusing on its gas infrastructure, including storage assets and liquefied natural gas terminals, it said in a strategy published on Thursday.
Under its new CEO Agostino Scornajenchi, the gas grid operator sees divestment of non‑core assets worth 1.6 billion euros and potential selective acquisitions worth 1.2 billion. Make sense of the latest ESG trends affecting companies and governments with the Reuters Sustainable Switch newsletter. Sign up here.
"We are pragmatically addressing the challenges of the current global context, with energy demand expected to grow in the medium to long term and gas to continue to play a central role," Scornajenchi said in a statement.
Snam reported a 10.3% rise in adjusted full-year net profit to 1.42 billion euros ($1.65 billion), in line with its previously announced guidance, as it showed resilience in regulated activities and discipline in its financial structure. The state-controlled group forecast a profit of around 1.45 billion euros for 2026. Net income is expected to grow on average 4.5% each year until 2030 as part of its new strategic plan.
It also proposed a dividend of 0.3021 euro per share to be paid from last year's earnings.
