- Business
- Italgas S.p.A. (IG.MI) operates as Europe's leading gas distribution company and a Network Tech Company, managing advanced networks for gas distribution, water services, energy efficiency solutions, and information technology services. Founded in 1837 and headquartered in Milan, Italy, at Via Carlo Bo 11, the company maintains a vast gas distribution network spanning 155,000 kilometers across more than 4,000 municipalities in Italy and Greece, serving 12.9 million customers; its water operations cover 6,300 kilometers of pipelines, directly and indirectly supplying 6.3 million people in regions including Lazio, Campania, and Sicily; energy efficiency offerings focus on innovative sustainable development and energy-saving solutions; and IT services support business innovation, digital transformation, network monitoring, meter operation, pressure reduction plants, fault reporting, and laboratory testing. Geographically, Italgas concentrates on Italy for water, energy efficiency, and IT, while extending gas distribution to Greece through subsidiaries. In recent developments, Italgas completed the acquisition of 2i Rete Gas, Italy's second-largest gas distributor, in a €5.3 billion deal including debt, merging it into Italgas Reti on July 1, 2025, which expanded the gas network by 86% and customer base by 60%; the company launched its 2025-2031 Strategic Plan, "Shaping a New Energy," targeting €16.5 billion in investments, including €2 billion for gas infrastructure development, digitization, and repurposing in Italy and Greece, €5 billion for ATEM tenders, and €8 billion to bolster water and energy efficiency positions; these initiatives drive synergies, cost efficiencies of €250 million, and enhanced EBITDA guidance to €3.0 billion by 2031.