The Italian gas grid operator Snam plans to invest €1bn in a new LNG offshore terminal to be developed near Ravenna, in the region of Emilia-Romagna (north-eastern Italy). The new terminal, which will host the floating storage and regasification unit (FSRU) BW Singapore, will have a regasification capacity of 5 bcm/year and is expected to start commercial operations in late 2024.
Snam is also developing Italy's first carbon capture and storage (CCS) project in Ravena, which will make it one of the world’s largest sites for CO2 storage and the largest in the Mediterranean. The work on the first phase has reached 60%, and the first CO2 injection is expected in the early months of 2024.
The Ravenna LNG terminal is the second regasification terminal purchased by Snam, following the development of the 5 bcm/year Piombino regasification terminal in Livorno, which received its first commercial LNG cargo in July 2023.
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