Italy’s Snam buys new regasification unit from BW LNG

Italian gas grid operator Snam SRG.MI said on Wednesday it had signed a deal with BW LNG to buy the floating storage and regasification unit (FSRU) BW Singapore, as Rome rushes to find alternative supplies to Russian gas.

Last year Moscow supplied 40% of Italy’s imports of gas, or 29 billion cubic metres. But since mid-June, Russia has been supplying less gas than requested by Rome, increasing pressure on the government to diversify its energy sources.

State-controlled Snam said BW Singapore has a maximum storage capacity of about 170,000 cubic metres of LNG (liquefied natural gas) and a nominal continuous regasification capacity of about 5 billion cubic metres per year.
Source: Reuters (Reporting by Francesca Landini, editing by Maria Pia Quaglia)