MILAN, Nov 9 (Reuters) – Italian gas grid operator Snam SRG.MI said on Thursday its nine-month adjusted core earnings rose 9% to 1.86 billion euros ($2 billion) helped by growth at both its regulated business and its energy transition division.

Adjusted net income was almost flat at 942 million euros due to the negative impact of higher amortisation costs and financial expenses.

Snam confirmed its financial targets for 2023 and said Italy’s natural gas storage system was more than 99% full, adding it had started works in the northern city of Ravenna to set up a new LNG terminal.

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(Reporting by Francesca Landini, editing by Giulia Segreti)

((francesca.landini@thomsonreuters.com; +39 02 66129437; Reuters Messaging: reutersitaly.thomsonreuters@reuters.net))

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