According to the Italian gas grid operator Snam, the 5 bcm/year floating storage regasification unit (FSRU) for its Ravenna LNG terminal (north-eastern Italy) is on schedule to become operational during the first quarter of 2025. With a progress of about 90% of the land works and 50% of the sea works, the FSRU BW Singapore is being prepared in Dubai to depart towards Ravenna.
In December 2023, Snam completed the purchase of BW LNG’s 2015-built FSRU BW Singapore for about €367m (US$400m). The FSRU has a maximum storage capacity of about 170,000 cm of LNG and a 5 bcm/year regasification capacity. With the commissioning of the BW Singapore, Snam expects to increase Italy’s regasification capacity to 28 bcm/year, corresponding to about 45% of the Italian gas demand registered in 2023.
Italy imported nearly 17 bcm of LNG in 2023 (about 28% of the country’s total gas imports during that year).