European Champion in Gas Distribution
With the acquisition of 2i Rete Gas, Italgas becomes the leading gas distributor in Europe, consolidating its leadership in the sector.
The Leading Gas Distribution Operator in Europe
The acquisition of 2i Rete Gas, announced on October 5, 2024, marks a decisive step in Italgas’ growth, strengthening its leadership in gas distribution and solidifying its role as a key operator in Europe. With the completion of the process, Italgas will expand from its current 8 million end users in gas distribution to over 12 million, becoming the largest gas distributor in Europe.
With this transaction, the Italgas Group achieves a historic milestone in its long and prestigious history. The acquisition of 2i Rete Gas allows us to become the leading European operator in the gas distribution sector, following our recognition as a global benchmark in terms of innovation and digitalization.
Paolo Gallo
CEO of Italgas
The integration of 2i Rete Gas will generate significant synergies between the two companies, improving operational efficiency and service quality—thanks in part to the extensive application of Artificial Intelligence—while also enhancing investment capacity in support of the energy transition.
Benefits for the Country
The acquisition of 2i Rete Gas is a fundamental step toward overcoming the fragmentation of the gas distribution sector and building a cutting-edge network that will bring numerous benefits to the country.
The new scale of the Group, combined with innovation and digital transformation, is crucial for achieving energy transition goals, ensuring supply security, and maintaining cost sustainability—thus addressing the challenges of the energy “trilemma.”
Furthermore, infrastructure investments generate significant returns on GDP, with a multiplier effect that can reach up to four times the invested amount.
A Strategic Plan Supporting the Energy Transition
Italgas’ 2024-2030 Strategic Plan includes €15.6 billion in investments, covering not only the acquisition of 2i Rete Gas but also the strengthening of infrastructure in Italy and Greece, network digitalization, and the development of technologies for biomethane and green hydrogen. Additional investments will be directed toward the water sector and energy service companies (ESCOs), with a strong commitment to achieving EU climate targets.
The Group will continue to benefit from a solid and efficient financial structure, with a commitment to maintaining its current solid investment-grade credit rating—a key factor in creating value, seizing new growth opportunities, and ensuring adequate shareholder returns through an updated dividend policy aligned with the new industrial plan.
The industrial integration of Italgas and 2i Rete Gas will unlock multiple value-creation opportunities. Synergies and cost efficiencies, combined with Artificial Intelligence, are expected to reach €200 million by 2030, compared to the combined 2023 cost base. These benefits will primarily stem from the extension of Italgas’ best practices and the extensive use of AI and digitalization within the new Group.
Additionally, revenues will increase thanks to the €800 million investment needed for the complete digitalization of the 2i Rete Gas network, contributing an estimated €80 million in additional revenues by 2030.
Beyond the Acquisition: A Vision for the Future
With this acquisition, Italgas not only consolidates its leadership but also sets the stage for redefining the European gas distribution landscape. The integration of 2i Rete Gas paves the way for a more efficient, digital, and sustainable industrial model, capable of meeting the challenges of the energy transition. Through targeted investments and advanced technologies, the Group will focus on smarter network management, decarbonization of energy consumption, and a balanced growth strategy that integrates innovation with financial solidity to build a new standard of excellence in the sector.
Investing in Italgas
We focus on technological innovation to transform and enhance our growth model, increasing efficiency and creating long-term value for our stakeholders.
Our Strategic Vision
Our €15.6 billion strategic plan will make a significant contribution to the country by fostering innovation, growth, and sustainability, helping to shape the gas industry of the future.