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Following the signing on 6 July 2022, Snam and BW LNG have finalised the acquisition by Snam Group of 100% of the share capital of FSRU I Restricted, which owns the FSRU BW Singapore, for a complete consideration of roughly US$400 million (round €367 million).
The BW Singapore can function each as an LNG provider and as an FSRU. The ship was in-built 2015 and has a storage capability of about 170 000 m3 of liquefied pure gasoline and a regasification capability of about 5 billion m3/y.
To maximise its regasification capability, the FSRU can be positioned off the coast of Ravenna, round 8 km away from the Punta Marina space. The FSRU is predicted to start out operations in 2025, after concluding the associated allowing and regulatory course of and finalising the mandatory works for mooring and connecting it to the transportation community, which have already began.
Snam CEO, Stefano Venier, mentioned: “By finalising the BW Singapore acquisition, Snam takes one other essential step in the direction of guaranteeing vitality safety and diversification of Italy’s vitality provides, in a difficult and consistently evolving international context. Along with the Golar Tundra, which began its operations in Piombino in July 2023, the 2 FSRUs will enhance the nation’s whole regasification capability from the present 25% to round 40% of the general pure gasoline demand.”
BW LNG CEO, Yngvil Åsheim, added: “We’re delighted to collaborate with Snam to strengthen Italy’s vitality safety and diversify Europe’s gasoline infrastructure via the FSRU BW Singapore. We’re additionally happy to assist Snam with all ship administration and modification works mandatory for permitting the vessel to start out operations in Italian waters. At BW LNG, we’re dedicated to the event of floating LNG infrastructure options, because the world strikes in the direction of a low carbon society and nations search for sustainable, inexpensive, and dependable vitality.”
Within the coming months, Snam may also begin actions for contracting the LNG regasification capability that may step by step change into out there with the FSRU operations begin, anticipated in 2025.
Learn the article on-line at: https://www.lngindustry.com/regasification/06122023/snam-purchases-frsu-from-bw-lng/
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