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Snam

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Snam S.p.A.
Company typePublic (Società per azioni)
BIT: SRG
IndustryGas industry
FoundedOctober 30, 1941 (1941-10-30)
Headquarters
San Donato Milanese
,
Italy
Key people
Carlo Malacarne (Chairman)
Marco Alverà (CEO)[1]
ServicesNatural gas transmission, storage and distribution
Revenue€3.649 billion (2015)[2]
€1.950 billion (2015)[2]
€1.209 million (2015)[2]
OwnerCDP Reti (28.98%)
Number of employees
6.303 (2015)[2]
SubsidiariesStogit
Italgas
Snam Rete Gas
GNL Italia
Websitewww.snam.it

Snam S.p.A. (BIT: SRG) is an Italian natural gas infrastructure company. As of 31 December 2015, it had a market capitalization of €16.97 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 [1] and, through associated companies, in Austria, France and United Kingdom.[3] Snam is one of Europe's main regulated gas companies - leading Italy in gas transport, storage and distribution, while ranking third in regasification.[2] Its main peers, in the regulated gas and electricity sectors in Italy and in Europe,[4] are:

  • Terna (Italy): the main grid owner, responsible for high voltage electricity transmission and dispatching nationwide
  • Enagas (Spain): Technical Manager of the Spanish gas System and the main carrier of natural gas
  • REE - Red Eléctrica de España (Spain): manages the 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 UK and northeastern US

History

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

On 1 June 2001, it changed its name to Snam Rete Gas. It has been on quoted on the Borsa Italiana since 6 December 2001.[5] On 1 January 2012, it was renamed with the original name of Snam.[5]

Subsidiaries

Snam has following subsidiaries:

  • Snam Rete Gas S.p.A.: the transmission system operator for natural gas;
  • Italgas S.p.A. and its subsidiary Napoletana Gas):the distribution group for natural gas ;
  • Stogit S.p.A.: storage of natural gas;
  • GNL Italia S.p.A.: for the regasification of liquefied natural gas.[6]

Shareholders structure

As of April 2016[1]
Shareholder Stake
CDP Reti 28.98%
Romano Minozzi 3.03%
CDP Gas (wholly owned subsidiary of Cassa Depositi e Prestiti) 1.12%
Banca d'Italia 0.53%
Eni 0.02%
Treasury share 0.03%
Retail Investors 7.46%
Institutional Investors 58.83%


Board of Directors

Appointed by the Shareholders’Meeting on April 2016 [1]

Role Name and surname
Chairman Carlo Malacarne
Chief Executive Officer Marco Alverà
Director Sabrina Bruno
Director Francesco Gori
Director Monica De Virgiliis
Director Yunpeng He
Director Lucia Morselli
Director Elisabetta Oliveri
Director Alessandro Tonetti

Sustainability

Snam's approach to sustainability is based on Shared Value,[7][8] 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.[9] In order to create Shared Value, Snam promotes sustainable development along its entire transport, dispatchment, regasification, storage and distribution process.[7]

In 2009 [10] the company joined the United Nations Global Compact [11] and since 2006 has published a sustainability report in accordance with the Global Reporting Initiative's guidelines.[12][13] Moreover, 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.[14]

Its commitment towards the environment focuses on the reduction of greenhouse gas emissions and safeguarding biodiversity.[15] Among its social initiatives, Snam partners with Legambiente [16] and Federparchi [17] and, in 2012, joined the Sodalitas Foundation, which seeks to build bridges between the entrepreneurial world in Italy and the non-profit sector.[18]

See also

References

  1. ^ a b c d "Borsa Italiana - Snam". Retrieved 11 May 2016.
  2. ^ a b c d e f "Annual Report 2015" (PDF). Snam.
  3. ^ "Reuters - Italy's Snam plans to unblock France-Spain gas bottleneck". Retrieved 19 August 2016.
  4. ^ http://www.borsaitaliana.it/bitApp/view.bit?lang=it&target=StudiDownloadFree&filename=pdf%2F88499.pdf
  5. ^ a b "History".
  6. ^ "Company structure".
  7. ^ a b "Snam - Sustainable Development".
  8. ^ "Snam - Shared Value".
  9. ^ "Article: Creating Shared Value - Harvard Business Review".
  10. ^ "Snam - Snam and Global Compact".
  11. ^ "United Nations Global Compact".
  12. ^ "Snam - Sustainability Report".
  13. ^ "Global Reporting Initiative".
  14. ^ "Snam - Social Area".
  15. ^ "Snam - Climate Change and Biodiversity".
  16. ^ "Snam - Snam and Legambiente".
  17. ^ "Snam and Federparchi".
  18. ^ "Snam with Sodalitas".
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