Italy's Snam is working on a bid for a stake in a $6 billion natural gas pi...
MILAN/LONDON/NEW YORK - Italy’s Snam is working on a bid for a stake in a $6 billion natural gas pipeline in the United States in what would be the gas group’s first foray outside Europe, four sources told Reuters.
The 713-mile Rover pipeline can carry 3.25 billion cubic feet of gas daily from the Marcellus and Utica shale plays in Appalachia. Snam and JPMorgan declined to comment while Energy Transfer was not immediately available for comment. Additionally, returns on pipeline investments in the United States are generally higher than in Europe where many grids are run with regulated tariffs.
Snam, led by Chief Executive Marco Alverà, may submit a joint bid with some financial investors to boost its firepower, one of the sources said.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Daily Briefing: World markets take heart from China, Italy and BrexitDaily Briefing: - China and U.S. agree to hold high-level trade talks in October - China commerce ministry - Hong Kong's Carrie Lam says China 'respects and supports' withdrawal of extradition bill
Read more »
Exclusive: Exxon agrees $4 billion sale of Norway oil and gas assets - sourcesExxon Mobil has agreed to sell its Norwegian oil and gas assets for up to $4 bil...
Read more »
Exclusive: Petrobras unit head removed amid bribery allegationsThe chief executive of a natural gas pipeline unit of Brazilian state oil firm P...
Read more »
Exclusive: U.S. congressional probe finds possible lapses in Deutsche Bank controls - sourcesEXCLUSIVE: U.S. congressional probe finds possible lapses in Deutsche Bank controls - sources via Mark Hosenball MattScuffham johnodonnell21
Read more »
Exclusive: China sugar industry to lobby government for extension of hefty tariffs on imports - sourcesChinese sugar mills plan to ask the nation's Ministry of Commerce to extend...
Read more »