Edison announces that it has transferred to Snam S.p.A. the 100% stake in Infrastrutture Trasporto Gas (ITG), owner of the Cavarzere Minerbio gas pipeline, and the 7.3% equity investment in Terminale GNL Adriatico (Adriatic LNG), the company that owns the regasification terminal in Rovigo.

In particular, ITG is the company that built and operates the 83km Cavarzere Minerbio gas pipeline, connecting the Adriatic LNG’s regasification terminal to the Snam Rete Gas national transport network. The pipeline has a transport capacity of 9.6 billion cubic meters per year, and since 2009 it has allowed the transport of approximately 10% of the gas imported in Italy.

Adriatic LNG operates a regasification terminal with a capacity of 8 billion cubic meters located off the coast of Rovigo. Edison sells to Snam S.p.A. its remaining equity investment equal to 7.3% of the company's share capital, while maintaining the use of 80% of the terminal's capacity. Edison has a long-term contract with RasGas for the supply of 6.4 billion m3 of natural gas per year to be regasified by the Rovigo terminal.

Should Adriatic LNG sign new contracts for the use of the terminal's capacity, Edison will have an additional earn-out.

The company intends to invest the resources from the disposal of these non-strategic assets in Italy in the short term, to support Edison's strategic development plan envisaging strengthening of renewable energy sources. The ultimate goal is reach 40% of the production mix from green sources by 2030, and to expand its customer base.

About Edison

Edison is a leading player in Italy and Europe in the procurement, production and sale of electricity, in the provision of energy and environmental services thanks also to its subsidiary Fenice and in the E&P sector. Founded over 130 years ago, Edison has contributed to the electrification and development of Italy. It now operates in Italy, Europe and in the Mediterranean Basin, employing 5,000 people. In the power generation sector, Edison has plants with total capacity of 6.5 GW.

Edison covers about 20% of Italy’s gas imports thorough long term agreements for the purchase of 14.4 billion cubic meters of gas per year (2 billion from Algeria, 4 billion from Libya, 6.4 billion from Qatar and 2 billion from Russia).

About Snam

Snam is leader in Europe in the construction and integrated management of gas infrastructure. With its 3,000 people, Snam is active in the transportation, storage and regasification. Safeguarding our Country's energy security for more than 70 years, our vision is to foster the development of a European Gas Infrastructure.