Hydrogen Central

Snam CEO Set to Leave Italian Gas Company in April

snam ceo company

Snam CEO set to leave italian gas company in april.

[Bloomberg] Snam SpA Chief Executive Officer Marco Alvera is set to leave the Italian natural gas distributor to pursue a new venture, according to people familiar with the matter.

Alvera, 46, will depart at the end of his second term in April, when Italy’s state lender Cassa Depositi e Prestiti SpA, which controls Snam, will appoint a successor, said the people, who asked not to be named because the matter is private. He may form a new industrial energy venture, the people said.

Since he was appointed in 2016, Alvera has led Snam’s push into green gas and hydrogen, as well as the development of key infrastructures including the Trans Adriatic pipeline.

The management change comes at a crucial time for the industry, as Italy rushes to diversify its reliance on Russian gas that accounts for over 40% of the country’s total imports of the heating and power generation fuel. Thanks for staying up to date with Hydrogen Central.

Snam has been actively involved in the diversification away from Russian supplies, including an offshore pipeline project to ship gas from Spain to Italy, which is in a pre-feasibility stage. Spain has several liquefied natural gas import plants that can receive supplies from other exporters like the U.S. 

Under Alvera, who previously held senior roles at oil producer Eni SpA, Snam’s profit rose over 40%. 

Spokespeople for Snam, Alvera and Cassa declined to comment.

Highlights:

  • Under Alvera, Snam’s profit has risen over 40% since 2016
  • Alvera will leave company when his second term expires

READ the latest news shaping the hydrogen market at Hydrogen Central

Snam CEO Set to Leave Italian Gas Company in April, March 21, 2022

Get our LinkedIn updates!

Join our weekly newsletter!

Follow us

Don't be shy, get in touch. We love meeting interesting people and making new friends.