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Snam signs natural gas pump deal with Fiat Chrysler, Iveco
October 5, 2016 / 4:31 PM / a year ago

Snam signs natural gas pump deal with Fiat Chrysler, Iveco

MILAN, Oct 5 (Reuters) - Italian gas grid company Snam has signed an agreement with Fiat Chrysler Automobiles (FCA) and truck maker IVECO to boost the use of compressed natural gas (CNG) in fueling vehicles.

** Snam will invest about 200 million euros ($224 million) over five years to help double the number of CNG pump facilities in Italy to more than 2,000, the three companies say

** The growth in the number of stations will be the main driver in growing Italy’s CNG fleet to more than 3 million vehicles from the current 1 million

** FCA, which has the development of alternative fuel motors as a key pillar in its strategy, and IVECO both plan to develop their ranges of natural gas vehicles

** Italy is Europe’s biggest market for gas-fueled vehicles; the latter consumed more than 1 billion cubic meters of gas in 2015

** Snam manages Europe’s biggest gas pipeline network stretching more than 32,000 km

$1 = 0.8928 euros Reporting by Stephen Jewkes; Editing by Mark Potter

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