Italian player secures long-term commitments in FSRU capacity auction

Italy’s floating regasification terminal operator OLT Offshore LNG Toscana, controlled by Snam and Igneo Infrastructure Partners, has concluded the capacity allocation auctions with expressions of interest for regasification capacity at its floating storage and regasification unit (FSRU) moored off the coast of Livorno.

Following the announcement in April, the auctions were held from May 21 to May 23, 2025. This resulted in the allocation of 160 slots of 165,000 liquid cubic meters.

As explained by OLT, the slots were divided into a 15-year product (8 slots per year from gas year 2027/2028 to 2041/2042) and a 10-year product (4 slots per year from gas year 2027/2028 to 2036/2037).

The winners have until June 9, 2025, to apply for a possible extension of the allocation to subsequent gas years, at the same award price and for the same number of slots awarded in the product. 

There is capacity still available for the upcoming annual and multi-year auctions without expression of interest, scheduled to be held from July 3 to 10, 2025. The capacity will be published on June 10 and it will be offered in single-gas years.

FSRU Toscana, moored about 22 kilometers off the coast between Livorno and Pisa, is connected to the national grid through a 36.5-kilometer-long pipeline. Operated and managed by Snam, the pipeline has a 29.5 kilometer-long section at sea, 5 in the floodway, and the remaining 2 on dry land.

Two months ago, it was disclosed that the FSRU will remain in operation until the end of 2044 thanks to the 20-year authorization issued by the Italian Naval Registry (RINA).

The country is set to get another regasification terminal soon, once Snams’s FSRU BW Singapore kicks off commercial operations. The Italian player disclosed last month that the startup is planned for May, pending final authorizations.