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MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Snam S.p.A.    SRG   IT0003153415

SNAM S.P.A.

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Italy drafts guidelines for national hydrogen strategy, document shows

11/16/2020 | 09:24am EST

MILAN, Nov 16 (Reuters) - Italy has set out guidelines for a national hydrogen strategy to help decarbonise the economy as it phases out coal and boosts renewable energy production to meet long-term climate targets.

In a draft document called National Hydrogen Strategy Preliminary Guidelines, seen by Reuters, the Industry Ministry said it was targeting investments in the sector of around 10 billion euros ($12 billion) to 2030, with half of the amount coming from European funds and private investments.

To help boost production of "green" hydrogen, about 5 gigawatts of electrolysis capacity to extract the gas from water would be introduced over the period, the document said.

Electrolysis can be a carbon-free process if the power used is generated from renewables. Hydrogen is now mostly produced from fossil fuels or other carbon emitting processes, as electrolysis is too expensive due to the amount of power needed.

By 2030 hydrogen could make up 2% of Italy's final energy demand and help eliminate up to 8 million tonnes of CO2, the document said. As the industry scales up and costs fall, this could reach up to 20% by 2050, it said.

The document, when published, will become a basis for consultation before a final hydrogen strategy is approved, possibly early next year.

Brussels mapped out its plans this year to promote hydrogen as it strives for net zero emissions by 2050. France, Germany, and Spain have already set out their own targets.

Hydrogen today is too expensive for widespread use but as costs fall governments round the world see it as a replacement for fossil fuel in areas where electrification is not an easy solution.

The ministry document, which said the plans could create more than 200,000 jobs and generate up to 27 billion euros for Italy's gross domestic product, said hydrogen could be used in transport, heavy industry and natural gas pipelines.

Italian gas group Snam has been experimenting with a 10% mix of hydrogen in part of its natural gas network, while utility Enel and energy major Eni both have hydrogen plans.

($1 = 0.8458 euros) (Reporting by Stephen Jewkes; Editing by Edmund Blair)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ENEL S.P.A. 0.29% 8.859 Delayed Quote.7.04%
ENI S.P.A. -1.93% 8.831 Delayed Quote.3.31%
SNAM S.P.A. -0.26% 4.563 Delayed Quote.-0.83%
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Financials
Sales 2020 2 693 M 3 251 M 3 251 M
Net income 2020 1 097 M 1 324 M 1 324 M
Net Debt 2020 12 704 M 15 340 M 15 340 M
P/E ratio 2020 13,8x
Yield 2020 5,50%
Capitalization 14 763 M 17 849 M 17 826 M
EV / Sales 2020 10,2x
EV / Sales 2021 9,97x
Nbr of Employees 3 080
Free-Float 57,0%
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Snam S.p.A. Technical Analysis Chart | SRG | IT0003153415 | MarketScreener
Technical analysis trends SNAM S.P.A.
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TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 5,12 €
Last Close Price 4,56 €
Spread / Highest target 31,5%
Spread / Average Target 12,3%
Spread / Lowest Target -23,3%
EPS Revisions
Managers and Directors
NameTitle
Marco Alverà Chief Executive Officer & Director
Nicola Bedin Chairman
Alessandra Pasini Chief Financial Officer
Cosma Panzacchi EVP-Digital Transformation & Technology
Francesco Gori Independent Non-Executive Director
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1st jan.Capitalization (M$)
SNAM S.P.A.-0.83%17 849
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