Italy's Snam improves 2022 net profit guidance
Reuters
Published Jul 27, 2022 12:55
Updated Jul 27, 2022 13:06
MILAN (Reuters) - Italian gas grid operator Snam on Wednesday improved its guidance for full-year net profit after sales in the first half rose nearly 10% to 1.6 billion euros ($1.63 billion).
The group said it had contributed to Italy's efforts to reduce its dependence from Russian energy by purchasing around 2 billion cubic metres of natural gas and acquiring two new floating storage and regasification units.
Snam, which runs most of Italy's gas storage capacity, said the country's storage was 71% full as of July 25, on track to meet the government's winter target of 90%.
($1 = 0.9841 euros)
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Written By: Reuters
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