Stockpiling: Snam's 1.5 billion euro plan to boost deposits

Firstly: a gas storage filling level (including the 'buffer' of strategic reserves of 4.5 billion cubic metres) of around 93%, for a total that is at the highest level, around 9% above the average of the last five years. Secondly, a move, the one concluded in July with the acquisition of Edison Stoccaggio for a countervalue of around EUR 560 million, which, once finalised, will allow the group led by Stefano Venier to hold more than 17% of Europe's entire gas storage capacity of around 18 billion cubic metres. Two crucial steps that allow Snam to accelerate on the expansion of the deposits thanks to a punctual plan that foresees 1.4 billion of investments up to 2027, to which, according to industry estimates, another 100 million should be added as soon as the closing of the Edison Stoccaggio transaction, expected within the first quarter of 2025, is achieved.

A not insignificant commitment, therefore, which once again confirms the key role of gas storage in the national energy scenario, with a total capacity offered by Stogit, Snam's 'arm' in the sector and the main operator, of about 17 billion cubic metres of gas out of the total 18.2 billion cubic metres in the Italian system. To these numbers, the 1.1 billion cubic metres brought as a dowry by Edison Stoccaggio with its three plants in Cellino, Collalto and San Potito and Cotignola will be added, bringing to 12 the number of sites managed by Stogit, which already owns the storage facilities in Brugherio, Settala, Sergnano, Ripalta, Bordolano, Cortemaggiore, Sabbioncello, Minerbio and Fiume Treste.

In order to upgrade existing plants and to accelerate on the road to the structural expansion of storage capacity, Snam has put a EUR 1.5 billion plan on the table (also including the future contribution to support the three sites taken over from Edison Stoccaggio), which rests on four tracks, starting with the modernisation of sites and wells based on the best technologies and in compliance with industry best practices. On this front, work is underway to modernise (revamp) the Minerbio treatment plant, the second largest storage site in Italy. Stogit is also working on detailed engineering activities for the revamping of the Ripalta site, an investment for which ministerial authorisations have been obtained.

Then, starting next year, the Fiume Treste compressor station, which is the most important plant in Italy and is one of the pieces on which the group is aiming to structurally expand capacity together with the other piece, the Alfonsine (Ravenna) compressor station, a former gas field whose geological characteristics make it particularly suitable as a storage site.

The other 'leg' of the plan refers to improving the performance of the system by increasing the peak capacity of the storage system (read Minerbio and Cortemaggiore). In a longer-term (ten-year) perspective, there are also plans to refurbish the wells of the Sergnano field, drilled about 60 years ago, to maintain their performance.