Italgas

Investments of 1 billion euros in Greece are foreseen in the strategic plan of Italgas for 2024-2030 through its subsidiary Enaon, it was announced on Monday.

The €1 billion, raised by €100 million compared to the previous plan, will be allocated to expanding the distribution network for natural gas, digitizing the distribution of networks, and penetrating regions not served yet.

The filling of the LNG Storage and Gasification Station developed by Enaon EDA, the Greek Gas Distribution Company, a subsidiary of Italgas, was completed on Tuesday 24/09/2024 at the Industrial Park of Kastoria, to bring natural gas to the areas of Kastoria and Argos Orestiko.

Italgas sees prospects for significant development of the Greek natural gas market, after fully controlling the Greek medium and low pressure network since September 2022, with the completion of the acquisition of DEPA Infrastructure.

Enaon EDA, of the Italgas group, is planning for the expansion of the natural gas network to the Greek islands up to 2028.

This move has provoked the reaction of the Energy Ministry, whose goals provide for the reduction of gas in the energy mix.

This week Italgas officially presented the new identity of the group's Greek companies, which are now called Enaon (parent company) and Enaon Eda (subsidiary company).

Italgas, Italy's biggest gas distributor, unveiled plans on Thursday to invest 7.8 billion euros in its business by 2029, but its shares slipped as some analysts were unimpressed by earnings projections and dividend plans.

Italy's biggest gas distributor Italgas said on Thursday its core profit rose 19% to 297 million euros in the first quarter, lifted by both a newly acquired Greek business and its energy efficiency services.

Total revenues were up 36% year-on-year to 480 million euros, with sales from Greece accounting for nearly 10% of the total.

In record time, the tender for the sale of DEPA Infrastructure by the Hellenic Republic Asset Development Fund (HRADF) to Italgas is completed.

Inflation in Greece August to August stands at 1.4%. It is not big. We are fourth in Europe. It is a reasonable inflation current. This was stressed by the Minister of Development, Adonis Georgiadis, speaking at the stand of the Financial Post at the Thessaloniki International Fair.

Greece's privatization agency, the Hellenic Republic Asset Development Fund (HRADF), on Thursday announced that it has received two binding offers for the 100 percent acquisition DEPA Infrastructure SA, in a joint sell-off with Hellenic Petroleum (Hel.Pe) group.
Binding offers were submitted by:

- EP Investment Advisors, and
- - ITALGAS SpA