The European Commission on Monday reaffirmed its commitment to two major cross-border energy initiatives championed by Italian gas grid operator Snam, including them in its updated priority list and making them eligible for crucial European Union funding.

The inclusion of the projects, which include hydrogen pipelines and Carbon capture & storage (CCS), on the EU’s list of Projects of Common Interest (PCI) and Projects of Mutual Interest (PMI) secures their access to benefits such as fast-track authorization processes and potential EU financial backing. 

Snam’s projects had previously been placed on the 2023 list, and their current designation is expected to solidify their place in Snam's upcoming industrial plan, set for presentation early next year.

Snam-backed initiatives are among 235 projects on the comprehensive EU list designed to strengthen the continent's energy security and green transition goals, with the most ambitious being the SoutH2 Corridor.

SoutH2 Corridor is a massive hydrogen pipeline network designed to connect energy supplies from Algeria to Italy, Austria,and Germany. This infrastructure is a key component of Europe's strategy to transport renewable hydrogen across member states.

With carbon capture and storage technology seen by the EU as vital for decarbonizing heavy industries that are difficult to electrify, the second project involves the Callisto initiative, which focuses on developing offshore carbon dioxide storage sites near the Italian city of Ravenna. 

Snam stands to gain significantly from the EU's endorsement, accelerating the development of these strategic assets essential for both Italy's and the wider bloc's energy future.