Relations with Stakeholders
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Relations with stakeholders ■ Snam Rete Gas has always recognised the importance of communicating with all parties involved in sustainability processes. In fact, transparency is one of the key factors in the company ’s policy for good administration. A dialogue that is open to stakeholders’ expectations and to listening to the reasons and proposals of the various different parties leads to a meeting of positions that are open to debate but which are not oppositional. SUSTAINABILITY REPORT SNAM RETE GAS 2007 RELATIONS WITH STAKEHOLDERS What we said - what we did COMMITMENTS WHAT WE SAID IN 2006 WHAT WE DID IN 2007 Relations with stakeholders Create value for shareholders and the The company's dividend policy envisages A dividend of € 0.21 per share was community. an annual increase for the dividend of distributed, with a 10.5% increase over around 11% for 2007. the dividend approved for 2006. For the first time since 2007, the company An advance payment of € 0.08 per will be distributing an advance payment share was distributed in October for on the dividend for fiscal year 2007. fiscal year 2007, as determined by the This advance payment will be made Board of Directors upon approval of the next October and the amount will be half-yearly results. established by the Board of Directors when they approve the “Half-year report to June 2007”. Maintain a constructive relationship Continue to inform local organisations During 2007 41 meetings were held with stakeholders: the Community and of projects in advance and to hold and 7 agreements were signed. the Territory. meetings with farmer associations. Continue with existing partnerships, The contents of the agreement with signing an agreement with the Park of the Park of the Serio to safeguard the the Serio to perform activities to reserve which will be crossed by the safeguard the reserve which will be Mornico al Serio-Zanica pipeline, using crossed by the Mornico al Serio - Zanica trenchless technology, were shared. pipeline, using trenchless technology. Continue to dedicate ample attention GNL Italia published the document to the community and the territory in “Safety, Environment and the Territory” which GNL Italia's LNG regasification in 2007. It also concluded the first plant is located. phase of the TIMONE project and started the authorisation process for modernising the plant. Maintain a constructive relationship Continue to play an active role in Snam Rete Gas continued to play an with stakeholders: Italian Electricity responses to consultation documents. active role in responses to the consultation and Gas Authority. Support the Authority as regards any documents and in supporting the request for information or technical Authority. meetings. Update the European benchmarking The study on transport costs was study on transmission costs. updated. The Authority approved the Continue to contribute to the preparation Re-gasification Code and it went into of the Regasification Code. effect. 64 SUSTAINABILITY REPORT SNAM RETE GAS 2007 RELATIONS WITH STAKEHOLDERS COMMITMENTS WHAT WE SAID IN 2006 WHAT WE DID IN 2007 Relations with stakeholders Maintain a constructive relationship Continue to seek a constructive and A project aimed at revising the IT with stakeholders: Suppliers. transparent relationship with suppliers processes and at managing the online and encourage their awareness of qualification process was started. sustainability in the qualification and performance assessment processes. Guarantee a transportation, dispat- Continue to meet all Shippers capacity In 2007 all transport and re-gasification ching and regasification service that requirements for, also offering different capacity requirements were met. meets the requirements of Shippers types of interruptible capacity. Transport capacities on a six-monthly, resulting in an increasingly flexible and Increase the flexibility of the services quarterly or monthly basis were also efficient use of the transmission offered by allowing Shippers to have made available to Shippers. network. transmission capacity on a six-monthly, quarterly or monthly basis. Develop new transmission capacity to Respect the investment programme for Investments in 2007 totalled € 728 meet the needs for new imports driven the 2007-2010 period, with total expendi- million (+7.9% over 2006). by the growth of the gas market, and ture of € 4.2 billion, which will enable encourage the entry of new operators. transmission capacity to be further extended in comparison to the current level. Communicate with all stakeholders in a Communicate with all stakeholders in an Snam Rete Gas continued to update its clear and transparent way. increasingly effective way. In particular, for website www.snamretegas.it in 2007 in the www.snamretegas.it website, the order to communicate with all of its company is conducting a technological stakeholders in an increasingly effective review of the portal and embarking on a manner. It revised the contents, added project for the re-organisation of its new theme-based in-depth articles and content, and the improvement of functions (e.g. interactive financial browsing routes. statements and stock listing trends), increased the links between the various sections, and made the graphic layout more user-friendly, thus improving website accessibility and navigation. In parallel, Snam Rete Gas is designing a brand-new website with a new graphic layout, organisation of contents and optimum navigation paths. Below are listed the principal activities carried out: operational efficiency and financial solidity, has led to the share’s non-stop growth in value in 2007 as well. Creation of value Snam Rete Gas confirmed its contribution to the development of Relations with the Community and the Territory the natural gas sector in Italy by making the budgeted investments, Meetings with State, Regional and Local government increasing the transport capacity necessary for procuring the rising administrations and with the territorial associations volumes of natural gas the market is demanding. continued in order to inform them in advance of the new Its commitment to building infrastructures, together with its plant and new pipeline construction projects. 65 SUSTAINABILITY REPORT SNAM RETE GAS 2007 RELATIONS WITH STAKEHOLDERS Particular attention was dedicated to the community and Relations with the Italian Electricity and Gas Authority territory of Porto Venere (La Spezia), which houses the only All actions necessary for operating in a stable, open and liquefied natural gas regasification plant in Italy, run by the incentive-boosting framework, and with long-term visibility, subsidiary GNL Italia S.p.A. With the full support and were pursued. In particular, Snam Rete Gas: involvement of the municipality of Porto Venere, the • responded to the consultation documents issued by the Regional Natural Park of Porto Venere and ACAM S.p.A (a Authority regarding the aspects falling within its jurisdiction company supplying energy and environmental services with (4 consultation documents); registered office in La Spezia) and in compliance with the • responded to every request for information received provisions of a specific Protocol of Intent, GNL Italia from the Regulator; promoted and sustained the TIMONE – Territorial • lent its support to the Italian Ministry of Economic Instruments for Monitoring and Networking project, under Development and to the Authority in applying measures the scientific and methodological supervision of the Eni to cope with the climatic emergencies for the Italian Enrico Mattei Foundation. energy system. In line with the pursuit of a “participating” business policy, the Panigaglia LNG plant modernisation project was Snam Rete Gas updated the study of gas transport cost presented to local institutions and GNL Italia employees. comparison with the leading European competitors for network The environmental associations, political parties and Shippers with the helpful collaboration of a consulting firm. movements having a different opinion with respect to the project were also shown a total willingness to share When the Re-gasification Code was completed and information. approved by the Regulator, Snam Rete Gas took part in a GNL backed sports and cultural events organised by local number of technical meetings, and furnished the requested bodies and associations. information and analyses. Supplier relations Snam Rete Gas significantly encouraged utilisation of electronic negotiation tools (EBP – Electronic Billing and Payment). Indeed, over the past four years important operations were carried out on the level of company IT system integration (SAP) with EBP platforms and also buyer training and awareness campaigns to promote the use of electronic negotiation. Today the value of the contracts awarded using the EBP platform as compared to using “traditional” procedures totalled about 85% of all contracts awarded, with a 30% increase over 2006. Customer relations In 2007 Snam Rete Gas pursued its policy of offering Shippers capacity in line with their demands. In fact, the new types of interruptible capacity introduced starting in gas year 2005-2006 were also offered to Shippers in gas year 2006-2007. It was possible to meet all Shipper demands throughout the gas year, also giving approximately 3 million Sm3/g of interruptible capacity in addition to the continuous capacity. Commencing with gas year 2007-2008, Snam Rete Gas has for the first time placed at the disposal of Shippers the chance to grant transport capacity to Entry