Italian energy company Snam has signed a deal with BW LNG for the purchase by Snam Group of a floating storage and regasification unit (FSRU), increasing the country’s energy security during a time when Europe’s gas supply has been disrupted by the ongoing Russia-Ukraine conflict.
Announced yesterday (6th July), the US$400m purchase will see Snam taking full ownership of the FSRU ‘BW Singapore’, a facility which has a maximum storage capacity of about 170,000m3 (cubic metres) of liquefied natural gas (LNG).
Also equipped with a nominal continuous regasification capacity of around 5bnm3 per year, the unit can also operate as a carrier for the transport of LNG.
Stating that the purchase contributes to Italy’s energy security and diversification, Stefano Venier, CEO, Snam, said, “The two FSRUs acquired in the last month by Snam will contribute 13% of the national gas demand alone, bringing regasification capacity to over 30% of demand, as soon as we will get the permits to positioning them and get them connected to the national transmission network.”
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