Finance
Italy's Snam wins EU backing for hydrogen pipeline and CO2 storage
Published by Global Banking and Finance Review
Posted on December 1, 2025
1 min readLast updated: January 20, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on December 1, 2025
1 min readLast updated: January 20, 2026
Snam's hydrogen pipeline and CO2 storage projects gain EU backing, ensuring fast-track authorization and potential funding as part of the EU's priority list.
MILAN, Dec 1 (Reuters) - The European Commission on Monday included in its new priority list for cross-border energy projects two initiatives backed by Italian gas grid operator Snam, making them eligible for EU funding.
The commission had already added the projects to a priority list in 2023, but their presence in this year's update makes it likely that they will be included in Snam's updated industrial plan, due to be presented early next year.
Snam's projects, part of an EU list of 235, are a hydrogen pipeline linking Algeria, Italy, Austria and Germany dubbed the SoutH2 Corridor, and offshore carbon dioxide storage sites near Italy's Ravenna, part of the Callisto project.
Since they are among the so-called Projects of Common Interest and Projects of Mutual Interest, they will benefit from fast-track authorisation processes, as well as possible financial backing from the EU.
(Reporting by Francesca Landini, editing by Alvise Armellini)
The European Commission is the executive branch of the European Union responsible for proposing legislation, implementing decisions, and managing the day-to-day operations of the EU.
A hydrogen pipeline is a transport system designed to carry hydrogen gas from production sites to end-users, facilitating the distribution of hydrogen as an energy source.
Carbon dioxide storage involves capturing CO2 emissions from sources like power plants and storing them underground to prevent them from entering the atmosphere, helping to combat climate change.
The SoutH2 Corridor is a proposed hydrogen pipeline project linking Algeria, Italy, Austria, and Germany, aimed at enhancing hydrogen supply and promoting renewable energy.
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