Snam is Europe’s leading operator in the construction and management of gas infrastructures and one of the major players in terms of invested capital for regulatory purposes (regulated asset base, or RAB). With over 6,000 people, Snam is active in transport, regasification, storage and distribution of natural gas through four operating companies: Snam Rete Gas (transmission and dispatching), Gnl Italia (regasification), Stogit (storage) and Italgas (distribution). Snam’s presence in the whole chain of gas regulated activities allows the company to leverage the value set out by the integration of the businesses, in order to ensure maximum flexibility and security of the Italian system through operational synergies and a unique expertise in the sector, gained in over 70 years of experience. The company, which is listed on the Milan Stock Exchange since December 2001, is part of Italy’s FTSE MIB and of Europe’s STOXX 600 Utilities indexes. Snam’s activities are subject to the regulations set out by the Authority for Electricity and Gas: a clear, transparent and stable regulatory framework, which allows the Company to pursue a challenging strategy aimed at value creation by maintaining a low risk profile.