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    SRG   IT0003153415

SNAM S.P.A.

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Snam S p A : CEO hopes COP26 will provide definition for blue hydrogen

10/23/2021 | 06:15am EST
Italian gas group Snam logo is seen outside their office in Rome

LONDON (Reuters) - The COP26 climate conference in Glasgow ought to agree a definition for blue hydrogen to help producers trade it, the CEO of gas infrastructure group Snam said on Saturday.

"At COP26 we need to define what blue hydrogen means, because if you have blue hydrogen with little CO2 capture and a lot of methane leakage, it is very damaging," CEO Marco Alvera told the Saudi Green Initiative forum in Riyadh.

"Blue hydrogen must be defined, has to be certified, so the people producing very low or no carbon and no methane leaking in the hydrogen can have a tradable market," he said.

Italy's Snam makes most of its revenue from gas transport but has signed a flurry of hydrogen deals over the last year.

Governments and energy companies are placing large bets on hydrogen helping lower greenhouse gas emissions, but its future uses and costs are highly uncertain.

Blue hydrogen is extracted from natural gas using steam-methane reforming, currently the standard process, and captures the CO2 emissions in underground or subsea storage.

It is seen as a transitional approach while green hydrogen, which uses renewable energy for extraction, cannot fully meet demand. Some environmentalists oppose it.

Alvera also said he hoped COP26 would help get consumers involved.

"We need to get Amazon to start certifying net zero products. That will create a big offset market," he said, noting this would also require a means of certifying the supply chain of products.

(Reporting by Yousef Saba in Riyadh and Marwa Rashad in London; editing by Peter Graff and Jason Neely)

By Marwa Rashad and Yousef Saba


ę Reuters 2021
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Analyst Recommendations on SNAM S.P.A.
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Financials
Sales 2021 2 968 M 3 359 M 3 359 M
Net income 2021 1 185 M 1 341 M 1 341 M
Net Debt 2021 14 008 M 15 856 M 15 856 M
P/E ratio 2021 13,9x
Yield 2021 5,22%
Capitalization 16 341 M 18 417 M 18 497 M
EV / Sales 2021 10,2x
EV / Sales 2022 10,3x
Nbr of Employees 3 388
Free-Float 60,2%
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Technical analysis trends SNAM S.P.A.
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Mean consensus HOLD
Number of Analysts 20
Last Close Price 5,00 €
Average target price 5,13 €
Spread / Average Target 2,69%
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Managers and Directors
Marco AlverÓ Chief Executive Officer & Director
Alessandra Pasini Chief Financial Officer
Nicola Bedin Chairman
Claudio Farina Executive VP-Digital Transformation & Technology
Rozemaria Bala Secretary, Head-Governance, Risk & Compliance
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