Italgas today (2016-2018)
In 2016, 13 years after being off the stock exchange list, we came back to being listed on the Milan Mercato Telematico Azionario [Electronic Stock Exchange) after our separation from Snam. This transaction will allow us to best seize development opportunities tied to the new tenders for assignment of the town gas distribution service.
Today, after having celebrated our 180 years of history in September 2017, we are investing in a huge process to acquire new companies so as to speed up our growth an take our market share in Italy from 30% to 40%. A large number of acquisitions were in fact finalised between the end of 2017 and the beginning of 2018, including Medea, Ichnusa and, lastly, Seaside, with which we are officially entering the energy efficiency sector. Seaside is one of the largest Italian Energy Service Companies (ESCo), on the cutting edge in offering digital services due to its skills in the field of Big Data, Business Intelligence and Machine Learning.
From entry in the stock exchange at the end of the century to Snam’s acquisition (1900-2009)
In 1900, we entered the Milan Stock Exchange, but the growth of electricity replacing gas for public lighting drove us to seek new commercial outlets for domestic uses, starting with cooking food and then heating and then the production of hot water. And so, in the Twenties we launched a buyout programme of gas companies operating in several Italian cities, including Venice (1924), Rome (1929) and Florence (1929), with the goal of creating a large industrial group.
The Great Depression of 1929 and the loss of bank coverage by Credito Italiano led us to the brink of financial collapse. The Mussolini government and the intervention of holding company Banca Commerciale Italiana, SOFINDIT, were however able to put Italgas back on its feet on the eve of WWII, during which we continued to operate in the gas sector despite being threatened by the Nazi occupation forces, fighting to protect our workers and maintain the plants. Methanisation of the country began during the post-war years with the creation of the first urban network of natural gas distribution in Lodi, near the natural gas reservoirs discovered in Val Padana.
In 1967, we became part of Eni and became key players of the country’s methanisation. With the progressive affirmation of natural gas and the development of gas pipeline transportation networks from 1970, new urban networks grew and the existing ones were modernised.
In 2003, under the scope of a reorganisation process, Eni delisted Italgas shares from the stock exchange, and in 2009 Snam bought out the entire block of shares of Italgas. And thus, a new group - made up of us, Italgas, and of colleagues of Snam Rete Gas, Stogit and Gnl Italia - was formed and is active along the entire chain of regulated activities of the gas sector in Italy, from transportation to storage, and from urban distribution to regassification.
Our origins (1837 – 1900)
Compagnia di Illuminazione a Gaz for the city of Turin was formed in 1837. It was the first Italian company specialised in distilling solid fuels to produce illuminating gas. In 1838, the city of Turin granted the possibility to use the subsoil free of charge, thus bring gas lighting to several public spaces and to the wealthiest families. Starting from 1846, the company signed an agreement with the city of Turin for the supply of a city lighting service for nine years.
In 1851, when the doors of the Turin stock exchange opened up, the Company was among the 7 "Private Funds" admitted for listing. In 1863, straight after the Italian unification, the company changed its company name and became known as Società Italiana per il Gaz.
After 9 years of concession, the company merged with Società Anonima Piemontese per l’illuminazione a Gaz di Torino in 1856, creating Società Gaz Luce di Torino, from which a unified gas distribution network was born. Afterwards the plants were upgraded and new storage warehouses were built.
At the end of the 19th century, the distribution network on the national territory was increasingly extended and the company invested in the real estate sector and in technological development, thus being able to acquire several Italian companies engaged in the gas sector and to obtain a solid position in the market on the eve of WWI.
ultimo aggiornamento 01 July 2020 09:01 UTC