FAQ - The Group
» What is ERG’s mission?
ERG: Energy for over 70 years. A story that repeats itself. Experience, dynamism and sustainable development are the hallmarks of our way of doing business. We rise up to challenges and we count on the talent of our employees and the value of our partners to achieve increasingly better results.
Our approach has always been characterised by ethics, credibility and efficiency.
» Which business sectors does ERG operate in?
The ERG Group has been active in the energy industry for over 70 years.
Through its subsidiary ERG Renew S.p.A., it is the largest wind energy producer in Italy (1,062 MW) and the ninth largest in Europe (1,232 MW). It is active in the production and marketing of thermoelectric energy and steam.
The Group also maintains a strategic presence in Oil Marketing through the joint venture TotalErg (51% ERG) and it is also active in refining and logistics through its share of the ISAB Refinery in Priolo (20%) and of the Sarpom Refinery in Trecate (24% TotalErg).
» What does ERG stand for?
ERG is an acronym for Edoardo Raffinerie Garrone; Edoardo Garrone (1906 - 1963) was the grandfather of the current chairman (Edoardo).
» Where can I find information about the shareholders of ERG?
For more information about the shareholders of ERG, see the webpage http://www.erg.it/homeEN/investorRelations/majorShareholders.html. For up-to-date information about “Relevant Shareholdings”, go to the section about Relevant Shareholdings)
» Where can I find concise information about the ERG Group?
For concise information about the ERG Group, you can download the Company Profile or the Fact Sheet.
» How is the ERG Group structured?
During 2010, a corporate reorganisation process was completed, designed to shorten the chain of control, via the merger of the ERG Raffinerie Mediterranee and ERG Power & Gas sub-holding companies in ERG SpA. This restructuring permits greater organisational and decision-making efficiency, endowing the Group with an organisation structured in business units, which are more flexible and consistent. For more information about the structure of the ERG Group, go to the relevant section or download the area of consolidation.
» What have the key milestones been in the history of the ERG Group?
1938 Edoardo Garrone founded ERG in Genoa
1971 ERG, alongside other private groups, joined the project to build the ISAB refinery in Priolo (Syracuse)
1984 ERG purchased 780 service stations from ELF Italiana
1985 ERG acquired Chevron Italia (1,700 sales outlets). ERG’smarket share rose to 5%
1988 ERG took control of ISAB.Activities ceased at the San Quirico Refinery
1993 ERG formed ISAB Energy together with Edison Mission Energy, to build the first oil residue gasification cogeneration plant
1997 ERG flotation on the Stock Exchange
1999 ERG’s fuel market share rose 7%
2005 ERG’s “multi–energy” strategy and its commitment to renewable energy led to the establishment of Ionio Gas S.r.l. (50% ERG Power & Gas S.p.A.and 50% Shell Energy Italia S.r.l.) for the construction andmanagement of a regasification terminal at the ISAB Impianti Nord refinery in Syracuse
2006 ERG acquired a 51.33% equity interest in Enertad, a listed company that operates in the sector of electricity generation from renewable sources; in 2007 ERG acquired an additional 17.03% stake, taking its shareholding in the company to 68.38%
2007 The restyling of the ERG service stations starts
2008 ERG signs the agreement with LUKOIL which,via the creation of a“newco”ISAB S.r.l. (51%ERGMed,49%LUKOIL), led to the formation of a strong partnership in costal refining activities
2010 TotalErg is born, joint venture with Total, is the third largest Italian operator in the oil product distribution andmarketing sectorwith a Retail network of around 3,300 service stations (market share of about 12%)
2011 ERG exercise of the put option on 11%of ISAB S.r.l. Following the sale, LUKOIL will own 60%of ISAB and ERG 40%.
» What is the Edoardo Garrone Foundation?
The Edoardo Garrone Foundation is an operating cultural foundation that was established in Genoa in December 2004 by ERG S.p.A. and San Quirico S.p.A., a holding company of the Garrone and Mondini families, which have always been attentive and committed in the social and cultural field, and it is dedicated to the memory of Edoardo Garrone who set up the ERG Group’s industrial business in 1938.
For further information go to the Edoardo Garrone Foundation web-site.