Uniper advancing OLT Offshore LNG stake sale talks

German utility company Uniper is reportedly advancing its talks with First State Investments, an Australian fund, over a sale of interest in the OLT Offshore LNG Toscana terminal off Italy. 

Uniper currently holds 48.24 percent stake in the facility with the Italian utility Iren Group holding a 49.07 percent and Golar (2.69 percent).

Citing three sources, Reuters reports the deal with the Australian fund is valued at around $909 million.

Liquefied natural gas terminals have been declared strategic assets by the Italian government, with the Italian foreign office junior minister Guglielmo Picchi saying in a tweet the government should step in with a review of the deal before the assets are “transferred by Germans to Australians.”

The FSRU Toscana is permanently anchored to the seabed through a mooring system, with a single point of rotation at the bow. It has a maximum regasification capacity of 3,75 billion cubic meters a year and a gross storage capacity of 137.500 cubic meters of LNG.

LNG World News Staff