BAKU, Azerbaijan, January 22. Snam has outlined its 2025-2029 Strategic Plan with total investments of 12.4 billion euros, an 8% increase from the previous plan, Trend reports.
A major portion of the investment, 1.5 billion euros, is dedicated to energy transition businesses, marking an increase from 1.2 billion euros in the prior plan.
Among the key initiatives, Snam plans to invest 500 million euros in Carbon Capture and Storage (CCS), a crucial technology for decarbonizing energy-intensive and high-emitting industries. The investment will focus on developing CO2 transport and storage infrastructure in Ravenna, in partnership with Eni. The project aims to create the largest offshore open-access CO2 hub in the Mediterranean, with a potential capacity of up to 500 million tons over its lifespan.
The initial phase of the CCS project, which began last August, has shown strong performance. Phase 2, expected to run from 2028 to 2032, will expand the capacity to an industrial scale, targeting up to 4 million tons of CO2 per year. This aligns with Italy’s National Energy & Climate Plan. The final investment decision for the project will be made by the end of 2026, contingent upon favorable regulatory conditions and expected returns.
The CCS initiative is seen as a cornerstone of Snam’s strategy to support the decarbonization of Italy’s hard-to-abate industries while contributing to the country’s energy transition goals.
