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Snam, Malacarne: "We are looking for allies, in 2012 Italian gas consumption down by 2%"

Snam's CEO, on the other hand, expects a 1% rise in consumption over the next year – The company is looking for alliances and acquisitions to create a European network structure that exploits Italian gas pipelines in the best possible way.

Snam, Malacarne: "We are looking for allies, in 2012 Italian gas consumption down by 2%"

"We are ready for alliances and acquisitions aligned with our strategy to create a European network infrastructure“. This was stated by the CEO of Snam Carlo Malacarne, during the inauguration, in San Donato, of the dispatching operations room to monitor the main gas pipelines on the national network. 

"It is a pity not to create a network that can improve and facilitate the transport of gas from the Maghreb to Northern Europe", added Malacarne, referring to the fact that Italy is the only European country with such a gas pipeline structure to be able to transport gas from Algeria to London. The group, therefore,  after having refinanced the debt contracted through Eni and having entered the orbit of CDP, the new main shareholder, aims to make Italy the European gas hub.

Snam's CEO also spoke about Italian gas consumption, “equal to approximately 77 billion cubic meters, down 2%“, while for 2013 expectations speak of an increase of 1%, with consumption still far from the 2006 peak of 86 billion cubic metres.

Meanwhile, Snam shares ended the day gaining 0,75% at 3,474 euros per share.

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