Italy's Snam finalises acquisition of FSRU BW Singapore
Italy's Snam has finalised the acquisition floating, storage and regasification unit (FSRU) BW Singapore from BW LNG for $400mn, Snam said on December 4.
The BW Singapore can operate both as an LNG carrier and as an FSRU. It was built in 2015 and has a storage capacity of about 170,000 m3 of LNG and a regasification capacity of about 5bn m3/year.
To maximise its regasification capacity, the FSRU will be located off the coast of Ravenna, around 8 km away from the Punta Marina area. The FSRU is expected to start operations in 2025, after concluding the related permitting and regulatory process and finalising the necessary works for mooring and connecting it to the transportation network, which have already started, Snam said.
In the coming months, Snam will also start activities for contracting the LNG regasification capacity that will gradually become available with the FSRU operations start, expected in 2025.