Stolt-Nielsen buys into Sardinia LNG project

Stolt-Nielsen buys into Sardinia LNG project

Oslo-listed Stolt-Nielsen has purchased a 10% stake in HIGAS, with an option to acquire up to 80% of the Sardinian company.

HIGAS is a joint venture between Gas and Heat and CPL Concordia with plans to build and operate an LNG terminal and distribution facility in the port of Oristano, Sardinia. The LNG is to be shipped to the terminal by LNG tankers and distributed to customers via pipeline and trucks. The terminal is expected to be completed in 2017.

Commenting on the project, Andrew Pickering, president of Stolt-Nielsen LNG Holdings, said, “This joint venture represents SNL’s third strategic investment in the LNG segment, where our focus is on meeting what we call stranded demand for LNG. Sardinia, which is not served by a gas pipeline, is a perfect example. With demand for natural gas rising on Sardinia, small-scale LNG imports represent an attractive solution.”

 

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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