July 30, 2020 / 7:17 AM / 10 days ago

Snam H1 sales rise as higher tariffs offset COVID-19 impact

July 29 (Reuters) - Italian gas company Snam reported a rise in first-half revenue on Thursday as an increase in tariffs offset a decrease in natural gas volumes transported due to COVID-19 and milder temperatures.

Sales rose 3.3% to 1.35 billion euros ($1.59 billion).

Europe’s biggest gas pipeline confirmed its full-year net profit guidance of 1.1 billion euros and confirmed it expected limited impact from COVID-19 on its investment plans.

$1 = 0.8505 euros Reporting by Rita Plantera and Silvia Recchimuzzi in Gdansk; editing by Jason Neely

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