Photo: Image courtesy of OLT Offshore LNG Toscana

OLT Offshore confirms Uniper’s LNG terminal stake sale to First State

OLT Offshore confirms Uniper's stake sale to First State
Image courtesy of OLT Offshore LNG Toscana

OLT Offshore LNG Toscana, the operator of the floating import terminal off the coast between Livorno and Pisa, said that First State Investments, an Australian fund, has joined the company board. 

The announcement follows the formalization of the transfer of shares held by Uniper (48.24 percent) to First State.

OLT added in its statement that the existing shareholders, Iren Group, through its unit ASA and Golar LNG held their shares of 49.07 percent and 2.69 percent, respectively.

The terminal, moored about 22 km off the coasts between Livorno and Pisa, is connected to the national grid through a 36.5 km long pipeline, operated and managed by Snam Rete Gas, of which: about 29.5 km at sea, 5 km in the floodway and the remaining 2 km on dry land.

At full capacity, FSRU Toscana has a regasification capacity of 3.75 billion cubic meters a year, about 4 percent of the national requirement.

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