Italgas S.p.A. is the largest natural gas distributor in Italy and a major player in Europe, operating an extensive pipeline network that spans over 150,000 kilometers across Italy and Greece. The company's core business model revolves around regulated gas distribution, which involves the transportation of natural gas through local pipeline networks from delivery points at reduction and measurement stations to final end-users, including households and enterprises. In the first nine months of 2025, regulated gas distribution accounted for over 90% of the company's total revenues. Beyond its primary gas operations, Italgas has diversified into the water sector through its subsidiary Nepta, providing water services to approximately 6.3 million people in Italy, and also offers energy efficiency solutions for residential and industrial customers. The company's competitive position is bolstered by its significant market share, which expanded to approximately 55% in Italy following the strategic acquisition of its main competitor, 2i Rete Gas. Italgas is also actively investing in the digital transformation of its networks to support the distribution of renewable gases such as biomethane and hydrogen, aligning with broader European decarbonization goals.
