LNG

June 5 (LNGJ) - Edison SpA of Italy, the energy company involved in the Italian natural gas and electricity supply markets, confirmed talks to sell its natural gas storage facilities to gas grid and LNG terminals operator SNAM.

   Edison said it was negotiating for SNAM to purchase the Edison storage subsidiary Edison Stoccaggio. Successful completion of the talks would give SNAM control of gas storage facilities located in Cellino (Teramo), Collalto (Treviso) and San Potito e Cotignola (Ravenna), with a total storage capacity of about 1 billion cubic metres per annum. Edison itself is part of France’s EDF group.

SNAM, the Italian natural gas grid and LNG terminals operator, said gas demand in Italy in the first quarter dropped by 19.4 percent to 20.54 billion cubic metres compared with 25.47 Bcm at the same time a year ago even as more LNG cargoes were unloaded at the Panigaglia onshore terminal near Genoa and Italy’s fourth terminal was starting operations at the end of May.

Italian natural gas grid and LNG terminals operator SNAM reported an increase in annual revenues as LNG imports rose along with storage levels to cope with the European gas crisis.

OLT Offshore LNG Toscana, the Italian floating storage and regasification unit deployed offshore Tuscany, is working at almost 100 percent of its capacity less than a year after the implementation of new allocation mechanisms via auction.

OLT Offshore LNG Toscana, the Italian owner of the import facility deployed off the Mediterranean coast, will again provide peak-shaving services for the natural gas network and has launched an LNG cargo tender that closes on October 16.