Italy’s Snam is working on a bid for a stake in a US$6 billion natural gas pipeline in the United States in what would be the gas group’s first foray outside Europe, reported Reuters.
The Milan-based company, controlled by state lender Cassa Depositi e Prestiti, is carrying out due diligence to buy a 33% stake sold by Energy Transfer in its Rover pipeline, one of the sources said.
The 713-mile Rover pipeline can carry 3.25 billion cubic feet of gas daily from the Marcellus and Utica shale plays in Appalachia.
Full Content: Reuters
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