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Italian energy company Snam acquired a new floating regasification vessel from BW LNG company to contribute to Italy’s energy security and diversification.
The vessel has a maximum storage capacity of 170 thousand cubic metres of liquefied natural gas (LNG) and a continuous regasification capacity of about 5 billion cubic metres per year.
The acquisition of the first vessel, which should meet up to 6.5% of domestic gas demand, was announced in June. The acquisition of the second vessel, BW Singapore, was announced on Wednesday (6 July).
Combined, the two gas infrastructures will “[contribute] 13% of national gas demand, bringing regasification capacity to more than 30 per cent of demand,” Snam CEO Stefano Venier said in an official note.
The Group will hold an infrastructure capable of serving LNG storage, transportation, and regasification.
As uncertainty grows across Europe over natural gas storage amid gas supply cuts from Russia, Italy seeks to increase its ability to receive gas by pipeline and increase storage capacity.
Three regasified plants are currently in service and a total of 107.2 million cubic metres have been stockpiled, mainly by Snam.
On several occasions, Prime Minister Mario Draghi and Ecological Transition Minister Roberto Cingolani reiterated that stockpiling is at a good point but not enough to guarantee a smooth winter.
Before they become operational, Snam floating regasifiers will first be sited and connected to the national transmission grid.
The company estimates BW Singapore may station in the northern Adriatic, close to Ravenna, and operations may begin in the third quarter of 2024.
