(MT Newswires) -- Stefano Venier, CEO of Italian gas transmission company SNAM, says SNAM is considering selling its stake in the UK-Belgium interconnector, in which the company holds just over 20%. This potential sale is part of a strategy to optimise the company's portfolio.

The CEO says that SNAM is in no hurry to sell its assets because the company has sufficient financial room for manoeuvre, with a reserve fund of two billion euros. He added that SNAM intends to spend 11.5 billion euros on investments over the next five years. This sale is therefore part of a strategy to optimise the company's portfolio and not a financial necessity.

Venier clarified that SNAM did not intend to sell its entire stake in Dinor, the hydrogen specialist, for the time being. He pointed out that last year SNAM sold 5% of Dinor to make the share more liquid and increase the value of the company. He also emphasised the collaboration between SNAM and Dinor to create a gigafactory for electrolytes and components, highlighting their technological complementarity, especially in the development of hydrogen production.

Bloomberg videos