Italian Snam will acquire the FSRU LNG terminal in Golar for Sardinia

Italian company Snam has signed an agreement with Golar LNG Limited to purchase the Golar Arctic tanker as a LNG floating storage and regasification unit (FSRU). Snam plans to install an acquired FSRU terminal in the Portovesme port area, at Fr. Sardinia as part of an energy project for the island.

The cost of the contract is € 269 million, which includes the Golar Arctic vessel and the cost of converting it into an FSRU terminal with storage capacity of up to 140 tcm. The commencement of the overhaul of the tanker into the FSRU and related actions are subject to the issuance of a Notice to Proceed (NTP) by Snam, and the converted Golar Arctic is expected to be delivered in approximately 2 years.