Snam News

Energy storage group VTTI will get a 70% stake in Italy's biggest liquefied natural gas (LNG) terminal, with grid operator Snam owning the rest, the Milan-listed group said on Wednesday, announcing a deal to be finalised by year-end.Snam, which is controlled by the Italian government, said in a statement it had exercised its pre-emption right to increase its stake in the infrastructure dubbed Adriatic LNG to 30% from 7.3%.The move comes after ExxonMobil and QatarEnergy last week agreed to sell their stakes in the terminal to a consortium led by Dutch group VTTI.

Snam has finalized 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 meters of liquefied natural gas and a regasification capacity of about 5 billion cubic meters 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 reg

Italian gas grid operator Snam will invest 1 billion euros ($1.1 billion) in a new LNG offshore terminal near Ravenna, the company's CEO said on Tuesday.The floating storage and regasification unit (FSRU) will add to another LNG terminal already set up in Tuscany, increasing Italy's gas import capacity and reducing dependence from its traditional suppliers, including Russia."To increase energy security for Italy we decided last year, together with the government, to increase the country's LNG import capacity in order to have more flexibility and diversify energy supplies…

Exxon Mobil Corp chose BlackRock as the potential buyer for its majority stake in Italy's main liquefied natural gas (LNG) import terminal, the U.S. oil producer said in a statement.The stake sale drew interest from infrastructure funds and international groups as Italy is expected to increase its LNG imports to partly replace the gas it used to get via pipeline from Russia.In March, Exxon said it was considering selling its 70.68% interest in the offshore Adriatic LNG Terminal…

A liquefied natural gas (LNG) vessel moored in the Tuscan port of Piombino will be moved off the coast of Vado Ligure and Savona in Italy's northwestern region of Liguria, the president of Liguria said on Tuesday.Italian gas grid operator Snam bought the floating storage and regasification unit (FSRU) last year as part of the Italian government's plan to reduce dependence on Russian gas, but the infrastructure was opposed by the local administration in Piombino.The decision on the proposed site was made after Liguria President Giovanni Toti met Snam's chief executive, a spokesperson for the Liguria president said. The decision on the…

Four international groups are competing to buy Exxon Mobil Corp's majority stake in a liquefied natural gas (LNG) terminal offshore Italy, two sources familiar with the matter said. The deal could value the entire LNG terminal at around 800 million euros ($881 million), the sources said. Exxon said in March it was considering selling its majority stake in Adriatic LNG, Italy's main regasification terminal, as part of a wider strategy to divest non-core assets. The U.S. group is being advised by Rothschild & Co. on the process.

The new floating terminal for liquefied natural gas (LNG) set up in the Tuscan port of Piombino will start its commercial operations at the end of this month, the CEO of Italy's gas grid operator Snam said on Friday.The terminal will make available around 2 billion cubic meters (bcm) of gas this year and around 5 bcm next year said Snam's Stefano Venier at a press conference to mark the arrival of the first LNG tanker in Piombino."This ship is a great service to the country," Environment Minister Gilberto Pichetto Fratin said at the same event.The expansion is part of the Italian government's

Exxon Mobil Corp is considering selling its majority stake in Italy's main regasification terminal as part of a wider strategy to divest from non-core assets, the company said in a statement on Wednesday. The Rovigo liquefied natural gas (LNG) terminal is owned by Exxon's subsidiary ExxonMobil Italiana Gas (70.7%), QatarEnergy subsidiary Qatar Terminal Company Limited (22%) and Snam Spa SRG.MI (7.3%). Snam, an Italian gas grid operator, has the first right of refusal should a partner decide to divest.

The Italian trade union USB filed a legal complaint against a plan by gas grid operator Snam to set up a new liquefied natural gas (LNG) terminal in the Tuscan port of Piombino, it said in a press release on Friday.USB alleged Snam had committed serious "environmental crimes" while performing works to build the terminal.USB criticised in the statement the choice to set up the terminal in an area already polluted by an old steel plant, saying regasification processes would increase…

Italy plans to boost its liquefied natural gas (LNG) import capacity to 27 billion cubic metres (bcm) from nearly 17 bcm currently as it seeks to completely replace Russian gas supplies following Moscow's invasion of Ukraine.In 2021, Moscow provided Rome with 29 bcm of gas via pipelines, equal to around 40% of Italy's total imports but Russian supplies have fallen in recent months to around 10% of total imports. Italy, which can now count on three LNG terminals, has mandated gas grid operator Snam SRG.MI to buy and set up two additional floating storage and regasification units (FSRU) near the cities of Piombino and Ravenna.A timely start for the Piombino FSRU is crucial to allow Italy to fill gas storage facilities in time for winter 2023…

Itay's Snam will choose the offshore site for its new floating storage and regasification unit (FSRU) in the next 100 days, Italy's special commissioner for the project said on Friday, with its initial location already facing a legal challenge.Under the government's plan to diversify energy supply away from Russian gas, Italy's gas grid operator plans to moor the newly-bought FSRU in the port of Piombino, on Italy's west coast, for the next three years. After this period, it has…

Italian gas grid operator Snam confirmed on Thursday its guidance for full-year net profit after reporting a rise of 10% in nine-month revenue to 2.4 billion euros ($2.41 billion). The state-controlled group said it planned to boost Italy's gas storage and transport facilities after getting the go-ahead to set up two new LNG terminals. The new floating LNG terminals and investments in gas infrastructure are part of a broader effort by the Italian government to replace dwindling Russian gas supplies and keep a lid on energy costs. The gas grid operator reported a decline of 9% in gas consumption by the industrial sector between January and September, in a sign that companies in Italy have cut activity in the face of high commodity prices and supply difficulties.

Italy's Emilia Romagna region has approved a project for a new floating LNG terminal off the coast of Ravenna in the upper Adriatic sea, it said on Monday, part of the country's broader efforts to replace dwindling Russian gas supplies. Almost one billion euros ($998 million) in total will be invested in the project, Emilia Romagna's Economic Development Councillor Vincenzo Colla told a news conference. The clearance took only about four months to be secured -- rather than years for similar projects in the past. As part of its energy strategy, Italy is adding two floating storage and regasification units (FSRU) to its existing three facilities. One will be off Ravenna, the other moored in the Tuscan port of Piombino on the other coast.

A state-appointed commissioner in Italy on Tuesday gave his formal go-ahead to the set up of a new liquefied natural gas (LNG) terminal in the port of Piombino, on the western coast of the country.Preparatory works by gas grid operator Snam for the infrastructure can start on Wednesday, Commissioner Eugenio Giani said during a press conference in Florence.The floating storage and regasification unit (FSRU), which is part of a broader plan designed by the former government of Mario Draghi to replace dwindling Russian gas supplies, needs to be operational by end-March.The gas grid operator said

The region of Tuscany has asked for hundreds of millions of euros in investments in exchange for allowing a new liquefied natural gas (LNG) terminal in the Tuscan port of Piombino, the Italian region said.In a statement on Monday, the region's administration said it had approved the new terminal, adding it was sending a list of requests to the national government.In June Italian state-controlled gas grid operator Snam bought a new floating storage and regasification unit (FRSU) in an effort to boost the country's energy security in the face of dwindling Russian gas supplies.Tuscany President E

Italy's commissioner for the set up of a new regasification terminal is confident the infrastructure could get the green light by the end of October, in time for extending the country's LNG capacity at the beginning of 2023.Under the government's energy plan, the new floating storage and regasification unit (FSRU) should be operational by the end of March next year to increase the country's LNG imports and make up for a shortfall of Russian imports.The infrastructure, which was bought in June by gas grid operator Snam SRG.MI…

Italy's commissioner for the set up of a new regasification terminal is confident the infrastructure could get the green light by the end of October, in time for extending the country's LNG capacity at the beginning of 2023.Under the government's energy plan, the new floating storage and regasification unit (FSRU) should be operational by the end of March next year to increase the country's LNG imports and make up for a shortfall of Russian imports.The infrastructure, which was bought in June by gas grid operator Snam…

Italy must increase its liquefied natural gas (LNG) import capacity from next year, energy group Eni's chief executive said on Wednesday.Italy has already secured additional gas imports from Algeria and Norway to make up for a fall in supplies from Russia, but it needs additional LNG terminals to receive more fuel from several countries, Claudio Descalzi said at a business conference.Descalzi said the state-controlled group, which last year imported about 21 billion cubic meters (bcm) of gas from Russia out of a total of 29 bcm imported by Italy…

Europe's race to replace Russian gas supply has threatened Australia's plans for five gas import terminals as they compete for key infrastructure, raising the risk of a supply shortfall in Australia's populous southeast in the next two years.France, Germany, and the Netherlands among others will need to import liquefied natural gas (LNG) to replace pipelined gas from Russia, which has been hit by sanctions during the Ukraine conflict.European users are grabbing floating storage and regasification units (FSRUs) needed to convert LNG to gas…

Italian gas group Snam has agreed to buy Golar LNG's floating storage regasification unit (FSRU) Golar Tundra for $350 million.The Golar Tundra can operate both as an LNG carrier and as an FSRU. The vessel, built in 2015, has a storage capacity of around 170,000 cubic meters of LNG and a continuous regasification capacity of 5 billion cubic meters per year.In order to maximise its regasification capacity, the vessel will be located in central-northern Italy, close to the areas with the greatest gas consumption. The Golar Tundra is expected to start operations as an FSRU during the spring of 2023, subject to the completion of authorization…

Italian gas group Snam has signed a contract with Golar LNG under which Golar will deliver the existing LNG Carrier "Golar Arctic" as a floating storage and regasification unit (FSRU).Snam will install the FSRU in the port area of Portovesme, in Sardinia, as part of a project to supply the island with energy.The contract, worth 269 million euros (~$283 million), includes the vessel and the capex for Golar to convert the Golar Arctic into an FSRU with storage capacity for up to 140,000 cubic meters. Further to the full conversion of the vessel, the FSRU will be sold to the Snam Group.Golar said that the start of activities for the conversion…

Italy is looking to install two floating storage and regasification units (FSRU) to boost liquefied natural gas (LNG) imports as part of plans to cut reliance on Russian gas, Italy's energy transition minister said on Tuesday."Today we officially mandated (gas group) Snam to negotiate the acquisition of an FSRU and the leasing of a second," Roberto Cingolani said in a parliamentary hearing.His comments confirmed sources who earlier told Reuters the two vessels, with a combined capacity of more than 10 billion cubic meters (bcm)…

Europe's biggest utility Enel has agreed to work with Italian shipbuilder Fincantieri to find ways to use green hydrogen in ports and long-range sea transport."The two companies intend to exploit their expertise and know-how in their respective sectors to identify possible sustainable and innovative solutions," they said in a statement on Thursday.Fincantieri and Enel Green Power Italia will in particular study the supply of green hydrogen to naval, submarine and surface vessels and industrial users in port areas and look into storage systems.Enel’s Eugenio Montale power plant in the town of L