The funding forms part of the firm’s €14bn ($16.2bn) 2026–2030 investment plan, which also includes spending on energy efficiency, biomethane, carbon capture, as well as expansion and upgrades to fossil fuel infrastructure.

The €200m is related to Snam Rete Gas’ Italian Hydrogen Backbone project, which was awarded project of common interest status by the EU to streamline permitting.

It would establish a 1,900km hydrogen transportation network – around 60% converted natural gas infrastructure – across Italy.

The pipeline is also planned to feed into the broader SoutH2 Corridor, which aims to connect low-cost hydrogen production in North Africa with Italy, Austria, and Germany.

Stretching over 3,300km, the SouthH2 pipeline developers claim it could carry four million tonnes of hydrogen per year.

In 2025, Snam secured a €24m ($27.8m) subsidy from the EU’s Connecting Europe Facility for its Italian leg of the project.

“We are investing €14bn by 2030 to create an increasingly integrated, secure, and competitive Italian and European energy system,” CEO Agostino Scornajenchi.

The investment update came as Snam reported €3.88bn ($4.49bn) in revenues and adjusted EBITDA of €2.97bn ($3.44bn).