Snam headquarters in San Donato Milanese
Snam backs CCS and hydrogen developer Storegga
Italian gas network company becomes strategic shareholder as Storegga secures $63mn in third-round fundraise
Italian gas infrastructure company Snam has bought a stake in carbon capture and storage (CCS) and clean hydrogen project developer Storegga as part of a £51.3mn ($62.8mn) third-round fundraise scottish powerby the UK-based company. The size of Snam’s investment was not disclosed. Storegga also secured additional funding from existing shareholders Singaporean sovereign wealth fund GIC, Japanese conglomerate Mitsui, global investment manager M&G Investments and financial services firm Macquarie Group. “It is terrific to add Snam to this shareholder group. They are a leader in the energy transition, with specialist experience in crucial areas such as gas transportation and hydrogen that su
Also in this section
17 July 2025
Oil and gas companies will face penalties if they fail to reach the EU’s binding CO₂ injection targets for 2030, but they could also risk building underused and unprofitable CCS infrastructure
9 July 2025
Latin American country plans a cap-and-trade system and supports the scale-up of CCS as it prepares to host COP30
3 July 2025
European Commission introduces new flexibilities for member states to ease compliance with headline goal
1 July 2025
Supportive government policy, deforestation threat and economic opportunity drive forward the region’s monetisation of forest carbon
