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Snam: decision on 20% entry into Tap by the end of the year

Snam CEO Carlo Malacarne notes the 5% increase in gas consumption, also due to this summer's heat wave - Eni's discovery of the large gas field in Egypt could lead to the construction of a new regasification terminal.

Snam: decision on 20% entry into Tap by the end of the year

The decision on Snam's entry into the Tap pipeline project will be made by the end of the year. To say it is the CEO of the company controlled by Eni Carlo Malacarne, commenting, on the sidelines of the Ambrosetti Forum in Cernobbio, the company's possible entry into the project that will bring Azeri gas to Italy from 2020.

Currently the main shareholders of Tap are Enagas, Fluxys, the latter trained with Snam in other businesses, with shares of 16% and 19% respectively, BP with 20%, Statoil with 20%, Socar with 20% and the Swiss Axpo (5%).

As regards the gas consumption, according to Carlo Malacarne, will register a growth of 5% on an annual basis in 2015. The very low consumption recorded in 2014 also weighs on the increase.

"With the heat of this summer - explained Malacarne - the thermo-electric plants are restarting". An element that bodes well for the transitional role that gas could assume, since "renewables are not enough".

According to Snam's CEO, there is also the discovery of the general picture huge gas field in Egypt by Eni. A discovery that could lead to the construction of another regasification terminal in Italy, which would add to the three already existing, in order to increase our capacity to import methane from Egypt.

"A part of the gas that will arrive from Egypt - according to Malacarne - will be used for internal consumption, but given the large quantity of the field, there will also be the possibility of taking it elsewhere, both through the Tap when it is completed, and possibly in the form of liquid gas thanks to a new regasifier”.

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