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Cosulich and Novella team up for new LNG terminal in the port of Genoa

Genoa-based Cosulich and Novella groups are working together with the aim to provide LNG to the port of Genoa in the near future, sources familiar with the matter revealed to Splash.

Italian oil major Eni has been also invited to take part to the project while Autogas Group will be the partner in charge for inland distribution of the gas.

This brand new alliance has commenced preliminary studies to explore how and where may be feasible to build a new LNG storage terminal in the port of Genoa, one of the few ports in Italy with no projects ongoing for a dedicated facility.

A first study recently completed by Eni found that inside the port area in Genoa there is no space to build a new LNG terminal, and so Cosulich and Novella are trying to find an alternative solution on a green field in the surrounding areas.

MSC Cruises, Costa Cruises and some other ferry companies have asked the local port authority to speed up any potential project aimed at giving shipping companies the possibility to receive LNG from bunker barges.

Cosulich and Novella, both active on the market as physical suppliers of bunkers in Singapore and in the ports of Genoa and Savona, are looking at the regasification terminal off the coast of Leghorn managed by OLT Offshore Toscana and the one onshore in Panigaglia controlled by Snam as key points for receiving LNG.

If the project will be economically sustainable, the two Italian shipping groups will invest in at least one LNG tanker to transport gas from the regasification terminals to the depot and also for ship to ship bunkering services.

Nicola Capuzzo

Nicola is a highly qualified journalist focused on transport economics, logistics and shipping with broad experience in both online and printed media. Specialties: shipping, ship finance, banking, commodities and port economics. He regularly interviews Europe's top shipowner executives for Maritime CEO magazine.
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