LNG

SNAM, the Italian gas grid operator and liquefied natural gas import terminals owner, reported an almost 70 percent surge in net profits as it advanced with its latest floating LNG venture at Ravenna on Italy’s East Coast.

SNAM Chief Executive Stefano Venier said the natural gas grid and terminals owner would begin commercial operations by the end of May at Italy’s newest and fourth LNG import terminal at the Port of Piombino in Tuscany.