The parties, through the agreement undersigned between Agip, Snam, TMF and Energon, changed substantially the terms of the merger notified initially. In this agreement Agip secured the right to acquire the concession, but committed itself to sell directly “at the beach” to Centro Energia a gas quantity of 250 million cubic meters for over 15 years. Once Centro Energia has purchased gas, the company will be able to transport it to its Ferrara plant, in virtue of the transmission contract signed between Snam and Centro Energia.

The Authority deemed that the commitments undertaken by the parties were likely to remove the anticompetitive effects of the merger as it was notified initially. As such, through the direct sale of gas by Agip to Centro Energia, Agip and Snam are no longer in a vertical supply relationship. Centro Energia therefore is able to supply gas from a source alternative to Snam. Additionally, Snam’s commitment to negotiate over the transmission of Centro Energia gas along the Falconara-Ferrara course is, except for the case of Enel, the first example of third parties access to Snam’s network, which does not fall within the obligations of transmission currently in force in Italy. This commitment is an important step toward a better third parties access to Snam’s network and meets beforehands the provisions of Directive on gas approved by the European Council.

The merger as it was notified initially seemed to be critical with regard to the likely removal of an independent company producing and self-consuming gas (Centro Energia), to the advantage of the dominant firm working in the natural gas transportation and primary distribution in Italy (Snam). This circumstance is particularly relevant, given that EEC Directive on the natural gas internal market, approved last December, will provide for gas thermoelectric plants to choose a supplier within the single market, and be vested with the right to obtain from the network owner the transportation of gas from delivery to consumption.