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☆ European gas storage 'is very full', SNAM CEO says
▼ + stars: | 2024-05-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEuropean gas storage 'is very full', SNAM CEO saysSNAM CEO Stefano Venier discusses the natural gas industry and European energy with CNBC.

Persons: Stefano Venier Organizations: CNBC

☆ ADNOC German oil deal has bad timing, good logic
▼ + stars: | 2023-11-28 | by ( Karen Kwok | ) www.reuters.com time to read: +4 min

Abu Dhabi National Oil Company (ADNOC), the state-owned Abu Dhabi oil giant he runs, is considering a bid for BASF-owned (BASFn.DE) Wintershall Dea, at a potential $11 billion valuation. The UAE firm is already in talks to buy chemical company Covestro (1COV.DE), Wintershall’s German compatriot, for $12 billion. Abu Dhabi's oil riches mean the UAE firm has the wherewithal to pay 5.5 billion euros for BASF’s Wintershall stake. Any deal could value Wintershall Dea at more than 10 billion euros ($11 billion), Bloomberg reported. BASF holds a 72.7% stake in Wintershall Dea.

Persons: Toru Hanai, Wintershall, Jaber, It’s, Austria’s, Abu, LetterOne, George Hay, Streisand Neto Organizations: REUTERS, Reuters, Abu Dhabi National Oil Company, BASF, The, Shell, Russian, Reuters Graphics Reuters, Abu, National Oil Company, Bloomberg, Wintershall Dea . Investment, Thomson Locations: Gastech, Chiba, Japan, Abu Dhabi, The UAE, Germany, Norway, UAE, Europe, United Kingdom, Abu, Russia, Wintershall Dea

☆ Rates are rising in Europe. HSBC names the region's 'most and least vulnerable stocks'
▼ + stars: | 2023-09-19 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

CNBC Pro takes a look at the bank's two screens of "the most and least vulnerable" stocks: one for "cash-rich" companies and the other for "high leverage" names. 'Cash-rich' names HSBC named "cash-rich companies relatively immune to rising borrowing rates." HSBC's screens in this category include French luxury goods label Hermes International , with a net debt of 9,222 euros ($9,834.11), British food processing company Associated British Foods (net debt of 1,709.39 euros) and Swiss biotech player Bachem Holding (net debt of 271.15 euros). Names with high debt HSBC also screened for companies with high leverage, meaning high net debt to equity and net debt to EBITDA ratios. Companies with high debt are seen to be vulnerable to further rises in interest rates.

Persons: Snam, — CNBC's Michael Bloom Organizations: British, HSBC, CNBC Pro, Companies, Hermes, British Foods, Bachem, Nokia, Daimler Truck Holding, Imperial Brands, Benz Group Locations: Europe, Swiss, Finnish

☆ Europe's energy supply is 'in a better position than last year' in preparation for winter, SNAM CEO says
▼ + stars: | 2023-09-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEurope's energy supply is 'in a better position than last year' in preparation for winter, SNAM CEO saysSNAM CEO Stefano Venier talks about the energy company's outlook and the gas industry, going forward.

Persons: Stefano Venier

☆ Snam CEO: Italy's gas storage will pave the way for European energy security next winter
▼ + stars: | 2023-03-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSnam CEO: Italy's gas storage will pave the way for European energy security next winterCEO of Italian energy giant SNAM Stefano Venier discusses the future of LNG terminals and Italy's role in helping Europe attain energy security amid the ongoing Russian war in Ukraine.

Methane is the main component of natural gas, so captured emissions can be sold as fuel. The energy sector accounts for about 40% of all methane emissions from human activity, second to agriculture. Dozens of oil companies have also voluntarily committed to reduce emissions through the Oil and Gas Methane Partnership, and the Oil and Gas Climate Initiative. Altogether, the coal industry was responsible for about 40 million tonnes of methane emissions in 2022. Coal-related methane emissions in China are equivalent to total CO2 emissions from the whole of sub-Saharan Africa," Gould said.

☆ EU struggles to agree Russian oil product price cap, seeks Friday deal
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +2 min

The European Commission proposed last week that from Feb. 5 the EU apply a price cap of $100 per barrel on premium Russian oil products such as diesel and a $45 cap per barrel on discounted products such as fuel oil. The price cap numbers have to be approved by all 27 European Union member states. Their ambassadors will meet on Friday to attempt to reach a deal, three EU diplomats told Reuters. One noted, however, that the EU has limited ability to change the price cap since it is a broader agreement among the Group of Seven (G7) countries. The Feb 5. price caps and EU ban on Russian oil product imports follow a $60 per barrel cap imposed on Russian crude on Dec. 5 as G7 countries and the EU seek to limit Moscow's ability to fund its war in Ukraine.

☆ Snam rethink reflects Europe’s new energy reality
▼ + stars: | 2023-01-19 | by ( Lisa Jucca | ) www.reuters.com time to read: +4 min

MILAN, Jan 19 (Reuters Breakingviews) - Snam’s (SRG.MI) new business priorities highlight Europe’s revised energy needs. Indeed, Snam is reducing its investments in green projects like hydrogen and biomethane to 1 billion euros from 1.3 billion euros under the previous plan. That’s a 23% increase from the 8.1 billion euros unveiled under its previous 2021 to 2025 strategic plan. This compares with 1.3 billion euros under the previous plan. Snam said it targeted EBITDA growth of around 7% a year on average despite rising interest rates, up from 4.5% in the previous plan.

☆ Startup Plans to Make Synthetic Natural Gas With Green Hydrogen
▼ + stars: | 2022-12-22 | by ( Giulia Petroni | ) www.wsj.com time to read: +7 min

Hydrogen company Tree Energy Solutions plans to provide low-emission fuels for businesses in Europe as they struggle with energy shortages and higher prices. PREVIEWRoughly 96% of the hydrogen in Europe is produced using natural gas, resulting in significant CO2 emissions, according to the European Commission, the European Union’s executive arm. Marco Alverà, head of TES and former chief executive officer of Italian gas grid operator Snam SpA, spoke with WSJ Pro Sustainable Business about a green-hydrogen-based process to create synthetic natural gas. Mr. Alverà: I’m a fan of hydrogen, but not of hydrogen in itself. Suddenly, we’ve turned something problematic and illiquid like hydrogen into something very fungible like natural gas.

☆ Italy court ruling allows work on Tuscan LNG terminal to proceed
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: +3 min

[1/3] A view shows the spot where a floating storage and regasification unit will be set up in front of the port city of Piombino, Italy, October 20, 2022. The court said on Thursday it had scheduled a new hearing on March 8 to assess longer-term safety issues relating to the floating terminal. The infrastructure needs to be operational by April to help Italy replace dwindling Russian gas supplies and to re-fill its gas storage by next winter. The Piombino terminal will have a capacity of 5 billion cubic metres (bcm) and will allow Italian energy groups to increase LNG imports to the country. In Italy there are currently three LNG terminals with a total capacity of nearly 17 bcm.

☆ Energy crises speed up the green transition: podcast
▼ + stars: | 2022-11-22 | by ( George Hay | ) www.reuters.com time to read: 1 min

LONDON, Nov 22 (Reuters Breakingviews) - In 2022, war and power shortages have led to more fossil fuel use. But they also act as a catalyst for the rollout of renewable energy. In this edition of The Exchange podcast, ex-Snam boss Marco Alverà tells George Hay how Europe’s leaders can capitalise on this dynamic. Listen to the podcastFollow @gfhay on TwitterEditing by Oliver TaslicOur Standards: The Thomson Reuters Trust Principles. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ How fuel cells could power the transition to a greener digital infrastructure industry
▼ + stars: | 2022-11-14 | by ( Sponsor Post | Created Vertiv With Insider Studios | ) www.businessinsider.com time to read: +6 min

The data center industry is booming and eager for land, which can push up property prices in residential areas. The partnership aims to develop a proof-of-concept for how low-carbon fuel cells can provide green power for data centers. Fuel cells are recognized as a cleaner and quieter power solution that can reduce the strain on urban power grids. Fuel cells can help reduce the data center industry's reliance on natural gas and diesel-powered generators, he added. In the webinar, Summers emphasized how important it is that any solution for low-carbon fuel cells turns into an "open standard."

☆ Shortfall in gas supply not probable if we have an average temperature this winter, Snam CEO says
▼ + stars: | 2022-11-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailShortfall in gas supply not probable if we have an average temperature this winter, Snam CEO saysStefano Venier discuss natural gas supplies and storage levels going into this winter.

At the COP27 climate conference in Egypt, companies and country delegates are discussing ways of enhancing the market for green bonds, or bonds that are linked to projects deemed environmentally beneficial. POPULAR DESPITE THE 'GREENIUMS'Also known as "use of proceeds bonds," green bonds involve a company or government raising money for projects considered environmentally beneficial. SUSTAINABILITY-LINKED BONDSSustainability-linked bonds, or SLBs, comprise a newer and smaller market than green bonds. SOCIAL BONDS, SDG BONDS, AND MOREBeyond bonds focused on environmental outcomes, lie pools of money for related goals around social equity or fair living standards. Social impact bonds, or impact bonds, differ from social bonds in linking financial returns to the desired outcome.

☆ Energy sector needs firms with mentality of Tesla and Amazon to move forward, CEO says
▼ + stars: | 2022-11-01 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +1 min

The energy sector requires new companies with the mentality of a Tesla or Amazon to push forward in the years ahead, according to the ex-CEO of energy infrastructure powerhouse Snam . "It took a Tesla to disrupt ... the car manufacturing sector, it took an Amazon to disrupt the retail market, and I think it's going to take new companies to disrupt the energy sector," Marco Alvera, who is now the CEO of Tree Energy Solutions, a firm looking to develop projects that use green hydrogen, said. Alvera, who was speaking to CNBC's Steve Sedgwick during a recent interview, went on to emphasize the importance of companies adopting an approach centered around dynamism. "The time it takes Amazon to build one of their warehouses — there's no way a conventional company can do that," he went on to state. "This is about taking some of the West Coast mentality, some of the Tesla mentality, some of the, you know, 'we can do it and we can do it quickly' attitude and delivering faster than a conventional approach would be able to deliver," he said.

The spot where a floating storage and regasification unit will be set up is seen in front of the port city of Piombino, Italy, October 20, 2022. Such a big-scale project will help Italy avert a supply crunch it could otherwise face next winter, but keep it hooked on gas for longer, slowing down its transition to renewable energy. A new rightist government, widely expected to be led by Giorgia Meloni, could be sworn in as soon as next week, with no sign that Rome's line on Piombino project - endorsed by Italy's industrial lobby Confindustria - could be changed. With little domestic gas production and a ban on nuclear power generation, Italy heavily relies on imports for its energy needs. Some local and environmental grassroots associations and unions gathered in Piombino on Thursday for a rally against the project.

☆ Factbox: Companies potentially affected by Italy's election
▼ + stars: | 2022-09-25 | by ( ) www.reuters.com time to read: +5 min

A woman walks at a polling station during the snap election in Rome, Italy September 25, 2022. read moreHere is a list of companies that could be affected by the outcome of the election. The change of government and calls by Meloni to revisit Italy's national recovery plan could threaten Italy's ability to meet the commitments to which European Union post-pandemic funds are tied. Brothers of Italy welcomed CDP's decision to wait for the election before filing its non-binding bid for TIM's network. read moreBrothers of Italy has called for the new government to be allowed to make a final decision on ITA.

☆ Gas prices front and center ahead of Italy's snap election
▼ + stars: | 2022-09-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGas prices front and center ahead of Italy's snap electionReporting from the Menfi–Mazara Del Vallo's natural gas pipeline operated by Snam, CNBC's Joumanna Bercetche highlights the crucial role that the energy crisis, cost stabilization, and supply diversification will play in Italy's future ruling government ahead of the elections.

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