Italian gas distributor Italgas plans to invest nearly $15 billion by 2032 as it accelerates the use of AI in increasingly smarter and flexible networks, Europe’s largest natural gas distributor said on Tuesday.
Total planned investments under the company’s Strategic Plan 2026-2032 unveiled today will be 13 billion euros, or $14.8 billion, through 2032. This would be a 14.6% increase compared to the previous strategic plan.
A total of $9.5 billion (8.3 billion euros) is earmarked for the development, digitization, and repurposing of gas infrastructures in Italy, up by 4.0% compared to the previous plan, Italgas said.
Expansion and network development in Greece will absorb $1.14 billion (1.0 billion euros) of all planned investments through 2032, according to the company.
The new strategic plan, dubbed “Lead. Innovate. In a changing world”, will rely heavily on flexible smart networks to boost energy security and integrate offerings with renewable gases, including hydrogen, biomethane, and synthetic methane. Smart meters rollout is also a pillar of Italgas’ plan.
Furthermore, the company is allocating $570 million (500 million euros) by 2032 to potential merger and acquisition (M&A) opportunities in the gas distribution sector.
According to the Italian gas distributor, all investments will boost the network’s security and resilience and make grids increasingly smart and flexible. This is a key prerequisite for growing volumes of renewable gases such as biomethane, hydrogen, and synthetic methane.
“Artificial Intelligence is an integral part of Italgas’ operating model and lies at the core of this Plan. Applied to operations, business processes and customer management, our “agents” are already generating significant efficiencies while improving service quality,” Italgas CEO Paolo Gallo said, commenting on the strategic plan.
“The 13 billion euros of investments will make our network even smarter, more widespread and flexible, ready to accommodate also green molecules and support an energy system increasingly exposed to international instability and commodity market volatility.”
By Charles Kennedy for Oilprice.com
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