The midstream operator stated that profit for the first half of 2008 stood at E259 million, an increase of 16.7%, compared to the first half of 2007.
Snam Rete Gas reported that 45.4 billion cubic meters of gas were injected into the transportation network in the first half of 2008, an increase of 8.3% compared to the first half of 2007. The company’s investments for the first half of 2008 were E477 million, an increase of 64.5% compared to the same period of 2007.
Carlo Malacarne, CEO of Snam Rete Gas, said: I am pleased to announce a 17% increase in profit for the first half of 2008. We have continued to make strong progress on our strategic objectives and are on track to deliver our E1 billion capex program for 2008, with investment increasing by more than 60% in first half. Capex growth represents one of the main drivers for our company’s value creation.
