LNG

The Italian Adriatic LNG import terminal has launched the accreditation phase for a 2024 open season to offer long-term regasification capacity to natural gas market operators.

SNAM, the Italian LNG terminal and natural gas grid operator, and Milan-based energy major Eni have finalized the terms of an agreement for the acquisition by SNAM of a 49.9 percent stake in a newly incorporated Italian company controlling natural gas pipelines connecting Algeria to Italy.

The Italian Port of Piombino in northwest Italy, located opposite the island of Elba, has been chosen as the preferred site amid local opposition for one of two floating storage and regasification units purchased by Italy’s grid operator SNAM to improve energy security.

Algerian energy company and LNG exporter Sonatrach and Italian oil and gas company Eni have signed an amendment to the contract for the sale and purchase of natural gas delivered to Italy.

Italian natural gas network company and LNG importer SNAM reported a more than 8 percent increase in net profits as more natural gas was used in Italy and it benefited from foreign investments in the Trans-Adriatic Pipeline bringing gas from Azerbaijan and its stake in the Abu Dhabi’s pipelines system in the United Arab Emirates.

Italian natural gas network and LNG terminal operator Snam said it was exploring opportunities to expand into the small-scale and mid-scale liquefaction plant sector and had signed an agreement on technological collaboration.

Italian natural gas network operator Snam, one of Europe’s leading energy infrastructure companies and operator of two LNG import terminals, reported an almost 4 percent rise in nine-month revenues to €2.03 billion ($2.40Bln) even as natural gas demand dropped because of Covid-19 lockdowns.