SRG

Italy's Snam finalises purchase of LNG floating terminal for Ravenna

Credit: REUTERS/GUGLIELMO MANGIAPANE

MILAN, Dec 4 (Reuters) - Snam SRG.MI has finalised the 400 million euro acquisition of a new floating liquefied natural gas (LNG) terminal that will be located offshore from the city of Ravenna, the Italian gas grid operator said on Monday.

The new ship dubbed BW Singapore has a storage capacity of about 170,000 cubic metres of liquefied natural gas and a regasification capacity of about 5 billion cubic metres per year and will help Italy to diversify its energy supplies.

The floating storage and regasification unit (FSRU) is expected to start operations in 2025.

That will follow the conclusion of the related permitting and regulatory process, and finalising the works needed for mooring and connecting it to the transportation network, which have already started.

(Reporting by Francesca Landini Editing by Keith Weir)

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

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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