Brussels, 5 November 2024
The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of Terminale GNL Adriatico S.r.l. (‘ALNG’) by Snam S.p.A., both of Italy, and VTTI B.V. of the Netherlands.
The transaction relates primarily to the market for gas import infrastructure, and more specifically to the operation of LNG regasification terminals, in Italy.
The Commission concluded that the notified transaction would not raise competition concerns, given its limited impact on competition in the markets where the companies are active. In particular, the Commission found that Snam’s ability to influence prices or other parameters of competition in gas import infrastructure in Italy is limited by sectoral regulation and other factors. As a result, the Commission concluded that it is unlikely that Snam could pursue a price increase strategy at LNG regasification terminals in Italy. The notified transaction was examined under the normal merger review procedure.
More information is available on the Commission’s competition website, in the public case register under the case number M.11568.