- Italian energy firm Snam (OTCPK:SNMRF) to acquire a floating storage and regasification unit (FSRU) Golar Tundra for $350M from Bermuda-based LNG shipper Golar (NASDAQ:GLNG).
- Snam and Golar LNG have signed an agreement for the Snam Group to acquire 100% of the share capital of Golar LNG NB 13 Corporation, whose sole asset is the Golar Tundra FSRU.
- The Golar board approved the transaction on 30 May 2022.
- The new LNG import terminal will help safeguard Italy’s energy security and diversification.
- Built in 2015, the Golar Tundra can operate both as an LNG carrier and as an FSRU. The vessel has a storage capacity of around 170K cubic metres of LNG and a continuous regasification capacity of 5 billion cubic meters per year.
- In order to maximise its regasification capacity, it will be located in central-northern Italy.
- The Golar Tundra FSRU is to start operations as a floating LNG regasification terminal during the spring of 2023.
- The transaction completed simultaneously with the signing of the contracts and will be financed by Snam out of its own resources.
- In near future, Snam will commence activities to contract LNG regasification capacity, which will gradually become available from start-up of Golar Tundra as an FSRU expected during the spring of 2023.