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VTTI and IKAV have entered a consortium to accumulate majority possession of Terminale GNL Adriatico Srl, also referred to as Adriatic LNG, which operates the regasification terminal positioned 15 km off the shoreline of Veneto area in Italy.
VTTI, a world chief in vitality storage and developer of vitality infrastructure, and IKAV, a global asset administration group headquartered in Germany, have entered a consortium to accumulate majority possession of Terminale GNL Adriatico Srl, also referred to as Adriatic LNG, which operates the regasification terminal positioned 15 km off the shoreline of Veneto area in Italy.
Adriatic LNG terminal has a technical regasification capability of 9.6 billion m3/y of pure gasoline (equal to half of Italy’s present LNG import capability), supplying roughly 14% of the nation’s nationwide consumption of pure gasoline.
Each VTTI and IKAV have a long-term strategic view on the terminal and goal to additional discover progress alternatives within the nation. VTTI brings operational information of vitality terminals and infrastructure, whereas IKAV contributes current in-depth expertise within the Italian vitality market, in addition to a long-term monitor document in managing and working each renewable and standard belongings.
The consortium will guarantee seamless operations and steady assist to Adriatic LNG, to boost safety of vitality provide in Italy, the second largest gasoline consuming nation within the EU.
The closing of the transaction is anticipated in 2H24.
Mizuho Securities acted as monetary advisor to IKAV. Natixis Companions Iberia acts as monetary advisor to the consortium. Natixis and Intesa Sanpaolo act as underwriters for the acquisition financing facility. Herbert Smith Freehills acts as authorized advisor to the consortium.
Learn the article on-line at: https://www.lngindustry.com/regasification/04042024/vtti-and-ikav-to-purchase-majority-ownership-of-adriatic-lng/
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