Snam SpA (SRG.MI), Italy 's biggest natural gas grid by pipelines, Thursday said it expects to close the 2.4-billion-euro ($3.12 billion) acquisition of TIGF, a French regional gas pipeline network, earlier than expected.

"The deal should close by the end of August which is earlier than our previous estimate of September," said Carlo Malacarne, chief executive of Snam, on the sidelines of a conference in Rome .

In April, French oil company Total SA (TOT) signed a final agreement to sell TIGF to a group comprising Snam, GIC, a Singaporean sovereign fund, and French state-controlled power utility Electricite de France SA (EDF.FR).

Snam holds 45% in the consortium, with GIC and EDF owning 35% and 20%, respectively.

Snam is expanding in Europe as part of its growth strategy and wants to tap into the European Union's concerted push of the last decade for more competition in the energy market.

The European Commission aims to form a single energy market to encourage the equitable flow of power and gas across borders, which it says will stimulate fair competition and could save consumers considerable sums of money.

TIGF, which Total put up for sale as part of a wider strategy to sell EUR20 billion of assets by 2015, is headquartered in the southwestern town of Pau and employs 500 people.
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