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Snam Rete to Construct Gas Pipelines for Gas Natural's Network

Posted on: Thursday, 25 October 2007, 09:00 CDT

Gas Natural and Snam Rete Gas have reached an agreement whereupon the latter will carry out the construction of the gas pipelines needed to connect the two projected LNG terminals to the Italian national gas transportation network, once the corresponding permits have been obtained.

The execution of both the works will represent a significant investment to be made by Snam Rete Gas. Gas Natural has submitted the necessary bank guarantees that have been obtained from one of Italy's major banks.

The agreement represents an important step ahead in the projects that Gas Natural submitted to the Italian authorities in 2004. The Spanish gas company thereby confirms its commitment to develop both projects, reinforced by the experience acquired in the LNG industry and in the construction and operation of regasification facilities, both in Spain and abroad.

Both projects for liquefied natural gas terminals in Italy, with a capacity of eight billion cubic meters each, will represent a total investment of around E1 billion. The projects are currently pending the environmental permits from the Italian Ministry for the Environment.

Source: Datamonitor

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