Italian Energy Minister Says Snam/Eni Split to Be Completed by Next Spring

Italian Minister for Industry Corrado Passera has said that a planned unbundling of Italy's gas companies will be completed by spring of next year.

The minister said earlier this month that the country's main energy company Eni will completely separate from pipeline operator Snam as part of a drive to increase competition in the Italian market.

"The separation shows the interest of everyone to have the transport infrastructure and gas trust in a wholly independent company and dedicated to bringing increased competition in the market, which can become a star of European networks," he said at the time.

Speaking to reporters today, he said he expected the separation to be completed by election time next year, before the current parliament had changed.

"It's the government's intention to do it within the current legislative period but we want to be certain that we're conducting a market friendly operation that's carried out as well as possible," he said.

The Italian government currently holds a 30. 3 per cent stake in Eni which in turn holds a majority stake in Snam at 52 per cent.