EuropeGasOffshore

Iren Group puts share of OLT Offshore LNG terminal up for sale

A stake in Italy’s floating terminal OLT Offshore LNG Toscana will be put on the market for sale by Iren Group, which owns a 49.7% stake in the project.

The other two shareholders are the energy group Uniper Global Commodities and Golar LNG.

Talking during the company’s 2020 strategic business presentation, Iren Group’s ceo Massimilano Bianco said: “OLT Offshore LNG Toscana has a relevant opportunity for growth in the near future but this asset is not strategic for us, therefore we will consider wthat to do with it in the coming months.”

The floating regasification terminal is the result of the conversion of LNG carrier Golar Frost and is now permanently anchored to the seabed about 22 km off the coast between Leghorn and Pisa.

The Terminal has a maximum authorised regasification capacity equivalent to 4% of Italy’s annual national gas requirement.

The project required a total investment of about €850m ($933m).

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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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