Planned LNG terminal off the north-west coast of Italy, by regional utility Iren and German E.ON, was labeled as strategic by the Italian government.
This guarantees the developers a regulated return regardless of the plant’s utilisation rate. Sources told Reuters that the decree was signed on September 3.
Proposed OLT LNG Toscana plant would be located 12 miles off the Tuscan coast in a form of a floating LNG unit. Concerns over the feasibility of the project have been voiced, but the government is looking to develop LNG terminals in a quest to diversify its gas supply, which is mostly imported from Russia.
LNG World News Staff, September 16, 2014; Image: OLT Offshore