(Finance) – Snam and BW LNG they have the acquisition by the Snam Group has been finalized of 100% of the share capital of FSRU I Limited, the company which owns the floating storage and regasification unit”BW Singapore“, for a total amount of approximately 400 million dollars (approximately 367 million euros). The operation, announced in July 2022, will allow Snam to be able to count on LNG ship for the transport of liquefied natural gas (LNG) and as FSRU. The vessel, built in 2015, has a storage capacity of approximately 170,000 cubic meters of liquefied natural gas and a regasification capacity of approximately 5 billion cubic meters per year.
In order to ensure the maximization of the use of its regasification capacity, the FSRU will be located off the coast of Ravenna, approximately 8 kilometers away from the coastal town of Punta Marina. It is expected that the FSRU will begin operating in Ravenna during 2025, after the conclusion of the authorization and regulatory process, as well as following the finalization of the works and works necessary for the mooring of the FSRU and its connection to the supply network. transposed, moreover, already undertaken by Snam.
“With the finalization of the purchase of BW Singapore – commented lSnam CEO Stefano Venier – Snam takes another important step to ensure greater security and diversification of Italy’s energy supplies, in a challenging and constantly evolving global context. Together with the Golar Tundra, which came into operation in Piombino in July 2023, the two FSRUs will make it possible to bring the country’s overall regasification capacity from the current 25% to around 40% of the demand for natural gas at a national level “.
Yngvil Asheim, CEO of BW LNG said: “We are pleased to collaborate with Snam to strengthen Italy’s energy security and diversify the gas infrastructure in Europe through the FSRU BW Singapore. We are also happy to support the company in ship management and necessary works upon the vessel’s entry into service in Italian waters. BW LNG is committed to developing solutions for floating LNG infrastructure, in a world moving towards a low-carbon economy through sustainable, affordable and sustainable energy supplies. reliable”.
In the coming months, Snam will also start activities for the contractualization of the LNG regasification capacity which will progressively become available with the start of operations of the FSRU, expected in 2025.