The BW Singapore floating regasification unit, moored 8.5km off Punta Marina in eastern Italy since 28 February, is set to commence operations in early May, enhancing Italy’s gas capacity.
The first US liquefied natural gas (LNG) cargo arrived on 3 April, marking the start of commissioning activities.
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The BW Singapore regasification unit, similar to the Italis LNG terminal in Piombino, boasts an annual regasification capacity of 5 billion cubic metres (bcm).
The unit, acquired by Snam in July 2022, can function both as a floating storage regasification unit (FSRU) and as a carrier for LNG transport.
Upon operation, Italy’s total regasification capacity will increase to 28bcm annually, matching the volume imported from Russia in 2021. This capacity will cover 45% of Italy’s domestic gas demand, offering diverse supply routes and mitigating geopolitical tensions.
Snam CEO Stefano Venier confirmed the operational readiness during a visit to the offshore terminal by Environment and Energy Security Minister Gilberto Pichetto Fratin and Emilia-Romagna Region President Michele de Pascale.
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By GlobalData“With the entry into operation of the Ravenna terminal, we are adding another fundamentally important element to the process of securing the country’s energy supply, which began in the aftermath of the Russian-Ukrainian crisis and has been made possible by the joint efforts of institutions and companies at both national and local level,” Venier said.
“We are not only keeping on schedule, we are also showing that this can go hand in hand with environmental protection and monitoring,” he added.
Snam recently agreed to acquire a 24.99% stake in Vier Gas Holding (VGH) from Infinity Investments, an investment vehicle of Abu Dhabi’s Investment Authority, for €920m ($1.02bn).
VGH fully owns Open Grid Europe (OGE), Germany’s largest independent gas transmission company.
OGE manages a 12,000km network with an annual offtake volume of around 21bcm, serving more than 400 end customers.
This acquisition provides Snam with a minority share in OGE, facilitating its participation in the German gas market and potential expansion in Europe’s energy infrastructure.
