The government of Italy’s Emilia-Romagna region has approved a new floating LNG terminal project off the coast of the Ravenna province in the upper Adriatic Sea (northeastern Italy), for which the region is expected to invest around €1bn.
The new terminal will host a 5 bcm/year floating storage and regasification unit (FSRU), which is expected to become operational by the end of 2024. The FSRU was acquired in July 2022 by the Italian gas grid operator Snam from the company BW LNG.
In October 2022, the regional government of Tuscany also endorsed the construction of a new LNG terminal in the port of Piombino, Tuscany, central Italy, which will host another 5 bcm/year FSRU, purchased from Golar LNG in June 2022.
The terminals are part of Italy’s previous administration’s plan to diversify gas supply and become less reliant on Russian imports. Italy imported 95% of its gas needs in 2021, and in 2020, 43% of its gas imports originated from Russia. Together, the two planned FSRUs are expected to account for about 15% of Italy’s total gas consumption, which reached 76.4 bcm in 2021.
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