Commodities
Italgas Outlines Nearly $15 Billion Investments Focused on Digitization
European natural gas distributor Italgas plans to invest 13 billion euros ($14.83 billion) through 2032 to primarily develop, digitize and repurpose gas infrastructure in Italy, it said on Tuesday.The 2026-2032 strategic plan represents a 14.6% increase in investments relative to the previous 2025-2031 plan.Of the total investments, 8.3 billion euros will be allocated to Italian gas distribution networks, a 4% increase from the previous target, largely due to digitalization opportunities and the upgrade of acquired assets, the company said.The amount also includes capital for the expansion of the company's new hydrogen smart meter, Nimbus, which is capable of metering hydrogen blending above 20%. Italgas said meter installations have already exceeded 200,000."All investments enhance the network's security and resilience and make grids increasingly smart and flexible - a key prerequisite for growing volumes of renewable gases such as biomethane, hydrogen, and synthetic methane," the company said.Capital allocation for future gas distribution tenders jumped 59% to 2.4 billion euros, according to the plan, while budget for the development and expansion of the gas distribution network in Greece was maintained at 1.0 billion euros.Italgas also said it has dedicated 800 million euros to "reinforce the positioning in the water and energy efficiency sectors" and another 500 million euros for mergers and acquisitions in the gas distribution sector."The 13 billion euros of investments will make our network even smarter, more widespread and flexible, ready to accommodate also green molecules and support an energy system increasingly exposed to international instability and commodity market volatility," company chief executive Paolo Gallo said.