Snam has signed an agreement with the shareholders of Higas, the company that owns the LNG coastal storage facility in Oristano, Sardinia, Italy, to initiate a period of exclusive assessment and negotiation regarding the potential acquisition of 100% of the company’s share capital, as well as the expansion and conversion of the current coastal storage facility into a floating storage and regasification unit (FSRU).
Once finalised, the transaction would enable the injection of regasified natural gas from the future Oristano FSRU into the upcoming natural gas transmission network which will serve the industrial and thermoelectric districts in central-southern Sardinia, as well as end-users in the provinces of Cagliari, Oristano, Medio Campidano, and Sulcis Iglesiente.
The new FSRU would also support the supply of natural gas volumes necessary for the methanisation of Sardinia, while increasing storage capacity by approximately 10 times with respect to current levels.