The Italian gas transport and storage company Società Nazionale Metanodotti (SNAM) has purchased a 5 bcm/year floating regasification and storage unit (FSRU) from the LNG marine infrastructure company Golar LNG for €330m. The “Golar Tundra” vessel, built in 2015, has a storage capacity of around 170,000 m3 of LNG and can operate both as an LNG carrier and as an FSRU. The FSRU will be located in central-northern Italy, close to areas where gas consumption is more important and is expected to start operations during the spring of 2023, following construction of the necessary infrastructure connecting the terminal to the existing Italian gas transport network.
This announcement comes as Europe is trying to diversify its gas supply and expects to rely more on LNG from abroad and less on Russian piped gas. Italy imported 93% of its gas needs in 2021 (87 bcm), and before the war in Ukraine, 43% of its gas imports originated from Russia.
Interested in LNG Databases?
World LNG Database offers a complete set of data on LNG markets. The service provides detailed information on existing and planned liquefaction and regasification plants. It also includes LNG shipping around the world, LNG contracts, time series on regasification and liquefaction capacities, LNG flows and LNG prices for all players in the market.