Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
  1. Homepage
  2. Equities
  3. Italy
  4. Borsa Italiana
  5. Saipem S.p.A.
  6. News
  7. Summary
    SPM   IT0005252140


SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Saipem S p A : Snam and Saipem sign MOUs to collaborate on technologies for energy transition hydrogen development and CO capture

09/11/2020 | 10:12am EDT

Snam and Saipem have signed a Memorandum of Understanding to set up a collaboration on new technologies focused on the energy transition from green hydrogen to the capture and reuse of CO 2, in order to fight climate change and contribute to the launch of the hydrogen market by supporting the Hydrogen Strategy of the European Commission.

The agreement, signed by the managing directors of Snam, Marco Alvera, and Saipem, Stefano Cao, respectively, aims to jointly identify and develop initiatives related to the production and transport of green hydrogen and the capture, transport and reuse or storage of anhydride carbon dioxide (CCS and CCU).

The collaboration between Snam and Saipem is already operational and is focusing, first of all, on the development of water electrolysis technology, a process that allows for the elimination of CO 2 emissions in the production of green hydrogen, effectively counteracting global warming.

The agreement also provides for a collaboration for the development of feasibility studies aimed at identifying new solutions for the transport of hydrogen in liquid or gaseous form - both through the use and adaptation of existing infrastructures and networks and through transport with vessels - and the capture, transport, storage or exploitation of CO 2 .

Through the Memorandum of Understanding, Saipem and Snam also identify the possibility of participating in technological innovation projects financed by the European Union.

Snam, one of the first companies in the world to experiment with the injection of hydrogen into a gas transmission network, is strongly committed to ensuring the compatibility of its infrastructures with increasing volumes of hydrogen and to supporting the growth of the Italian supply chain through the development of emerging technologies to facilitate their use in many sectors, from industry to transport.

Saipem today proposes itself as a real promoter of the energy transition both with the development of projects that aim at the hybridization and decarbonization of conventional oil and gas complexes (new or existing) and with the new business line dedicated to 'new energies' within the Onshore E&C Division which through the recent acquisition of technologies for CO 2 capture from the Canadian company CO2 Solution Inc.

'With this collaboration - declares Snam's CEO, Marco Alvera - we strengthen our commitment and partnership network in new technologies for the energy transition, in particular green hydrogen and its use in existing infrastructure. Snam, also through its dedicated business unit, is strongly committed to developing the hydrogen market and contributing to the creation of an Italian supply chain. Thanks to its geographical position, natural resources for the production of renewable energy and the strength of its manufacturing sector, our country can become a European and Mediterranean hydrogen hub, contributing significantly to the fight against climate change and the creation of new opportunities for development and employment '.

Stefano Cao , CEO of Saipem, commented: 'The agreement signed with Snam, with which we have a long-standing fruitful collaboration, is part of our strategy to reposition Saipem as a global supplier of solutions for the energy and infrastructure sector. It is therefore in line with the decarbonization process that we are committed to carrying out in all our activities, aiming to be at the forefront of the transition process towards low environmental impact energies. Already today 70% of our order book in the engineering and construction sector ( E&C) is untied from oil. Hydrogen will be the commodity that, together with LNG, will accompany the energy transition process in the next few years and Saipem is focusing its attention both on blue hydrogen production technologies,using energy from fossil sources, which green, from renewable sources, also taking into account the experiences gained within the entire chain of Carbon Capture & Storage, with various projects carried out around the world '.

The agreement will eventually be the subject of subsequent binding agreements that the parties will define in compliance with the applicable regulatory profiles, including those relating to transactions between related parties.


Tel: +39 02.3703.9505

(C) 2020 Electronic News Publishing, source ENP Newswire

All news about SAIPEM S.P.A.
06/18MARKET CHATTER : Daewoo Engineering Commences Construction of $5 Billion Nigeria..
06/16Norway oil drilling unions agree wage deal, averting strike action
06/16SAIPEM S P A  : new contract awarded by the Abu Dhabi National Oil Company for t..
06/15Saipem Lands $510 Million Contract to Expand, Upgrade Gas Plant in UAE
06/15SAIPEM S P A  : Horisont Energi selects Saipem and Technip Energies for concept ..
06/14SAIPEM S P A  : in JV with DSME, awarded a contract by Petrobras for a new FPSO ..
06/14MARKET CHATTER : Daewoo Shipbuilding Secures Order Worth $983 Million to Build O..
06/07SAIPEM S P A  : and Naval Energies sign an agreement for the acquisition of Nava..
06/04SAIPEM S P A  : Agrees To Acquire Naval Group's Floating Wind Unit
05/27FACTBOX-State lending giant CDP towers over Italy Inc
More news
Sales 2021 7 415 M 8 830 M 8 830 M
Net income 2021 -276 M -329 M -329 M
Net Debt 2021 1 549 M 1 844 M 1 844 M
P/E ratio 2021 -7,65x
Yield 2021 0,09%
Capitalization 2 139 M 2 549 M 2 548 M
EV / Sales 2021 0,50x
EV / Sales 2022 0,39x
Nbr of Employees 32 000
Free-Float 54,2%
Duration : Period :
Saipem S.p.A. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SAIPEM S.P.A.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 20
Average target price 2,19 €
Last Close Price 2,15 €
Spread / Highest target 74,2%
Spread / Average Target 1,85%
Spread / Lowest Target -62,8%
EPS Revisions
Managers and Directors
Francesco Caio Chief Executive Officer, Director & GM
Antonio Paccioretti CFO & Manager-Financial Reporting
Silvia Merlo Chairman
Paul Simon Schapira Independent Non-Executive Director
Roberto Diacetti Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
SAIPEM S.P.A.-2.36%2 536
NOV INC.13.69%6 098