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27 June 2022 The on-line newspaper devoted to the world of transports 10:05 GMT+2

June 1, 2022

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Snam bought the storage and regasification vessel Golar Tundra |

Venier: alone it will be able to contribute about 6.5% of the national needs. The Italian company is looking for a second FSRU and has an exclusive negotiation underway

Snam has bought the storage and regasification vessel (FSRU) Golar Tundra for a consideration of 350 million dollars. The unit, which was sold by Golar LNG Limited, can operate both as a LNG carrier for the transport of gas natural liquefied both as FSRU. The ship, built in 2015, has a storage capacity of about 170,000 cubic meters of gas natural liquefied and a regasification capacity continues by five billion cubic meters a year. Snam has specified that the acquisition, the closing of which is contextual to the signature of the contract, will be financed by Snam with its own resources.

Snam has announced that the FSRU, in order to guarantee the maximizing capacity utilization of regasification, will be located in a location of the central-northern Italy close to the points of greatest gas consumption. The company expects the FSRU to start its own activities during the spring of 2023, downstream of the conclusion of the authorization and regulatory process and of the realization of the works necessary for the connection to the network of transport.

The agreement with Golar LNG also provides that the latter will rent Golar Tundra by Snam against a fee, using it as an LNG carrier for a limited period of time, and assist Snam in the preparatory work for the installation of the ship in the chosen port.

In the coming months, Snam will also start operations for the contractualization of the capacity of regasification of LNG that will be progressively rendered available with the launch of Golar Tundra as FSRU.

"With the purchase of Golar Tundra - he explained Snam CEO Stefano Venier - Snam performs a decisive step to promote greater security and diversification of Italy's energy supplies, in line with its mission. The role of the new FSRU for the benefit of the country will be essential: alone it will be able to contribute to about 6.5% of national needs, bringing capacity of Italian regasification to over 25% of the demand. Snam has completed the operation quickly and effectively in a market characterized by a high level of competitiveness and scarcity of supply and continues to work in search of a second FSRU of similar size, on which it is an exclusive negotiation is currently underway, which is expected can be completed by the end of June'.

"We are happy - commented the CEO of Golar, Karl Fredrik Staubo - to have reached an agreement on the Golar Tundra with Europe's leading operator of natural gas infrastructure. Today's announcement represents the second transaction in a short time between Snam and Golar for FSRU related projects. We are pleased to be able to work with Snam for successfully start new regasification terminals and contribute to the European path to energy security. With the sale of Golar Tundra, Golar strengthens its focus on floating LNG plants, enabling the efficient production of proven gas reserves and enabling consumers to further diversify their supplies'.

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