Iren to follow Uniper in OLT LNG stake sale

Iren, Italy’s regional utility is reportedly looking to sell its 49.1 percent stake in the OLT Offshore LNG Toscana terminal off the Italian coast between Livorno and Pisa.

Sources told Reuters the company has been discussing the sale with a number of potential buyers, including the Italian natural gas transmission system operator Snam.

The reports follow the confirmation by OLT Offshore that the German utility company Uniper has transferred its stake in the terminal to Australian investment fund First State Investments.

The materialization of this deal, allowed Iren to sell its stake to other buyers, including First State. Should the company decide to sell its stake to the Australian fund, it reportedly has until the end of September to do so.

However, sources also said that Snam could be the buyers of Iren’s stake in order to keep the asset from being owned by a foreign company.

LNG World News Staff