Italy: Snam discussing purchase of Edison’s stake in Adriatic LNG

The Italian natural gas transmission system operator, Snam, has reportedly kicked off talks with Edison, EDF’s Italian unit, to purchase a share in Adriatic LNG. 

Adriatic LNG, the operator of the liquefied natural gas regasification terminal offshore Italy, is owned by Qatar Petroleum, ExxonMobil and Edison.

Edison has a 7.3 percent stake in the facility capable of handling 8 billion cubic meters per year and has earlier this month confirmed reports it is looking to sell its share.

The transaction is planned to be completed during the first half of July, Reuters reports, citing sources that added the deal would be closed above the current local media’s evaluation of Edison’s stake which is around €190 million ($211.5 million).

In March, Snam unveiled plans to invest about €4.7 billion into developing the Italian gas network and its interconnection with the European infrastructure system, with initiatives including small-scale LNG

1 EUR = 1.11295 USD

LNG World News Staff