All about Golar Tundra, the LNG ship purchased by Snam
Snam purchased a LNG storage and regasification vessel, the Golar Tundra, from Golar Lng. Here are details, numbers and statements
Snam, the energy company that manages the Italian pipeline network, today signed a 330 million euro contract to acquire the entirety of the share capital of Golar LNG NB 13 Corporation, whose only asset is a ship, the Golar Tundra. The Golar Tundra is a particular ship, an FSRU: a floating storage and regasification unit, which serves to restore the liquefied gas (LNG) transported by the LNG carriers to the gaseous state. Regasification is necessary for the introduction of gas into the network and its use for heating or electricity.
ALL THE NUMBERS OF GOLAR TUNDRA
Golar Tundra – explains Snam in a press release – can operate both as a methane tanker for the transport of LNG and as an FSRU. It was built in 2015, has a storage capacity of 170,000 cubic meters of LNG and a regasification capacity of 5 billion cubic meters per year.
WHAT WILL IT BE FOR
To reduce dependence on Russia, which is worth about 40 percent of the gas imported from Italy, the government is making deals with new suppliers (such as Algeria) and working to upgrade regasification capacity so that it can increase purchases. of LNG from abroad (from the United States, for example). The government therefore asked Snam to acquire FRSUs.
The San Donato Milanese company explained that the Golar Tundra will be positioned in central-northern Italy, in order to be close to the centers of greatest gas consumption (due to the greater presence of industries) and to speed up supplies. The ship is expected to begin its regasification activities in about a year, in the spring of 2023, once the necessary authorizations have been obtained and the infrastructure for its connection to the gas transmission network has been completed.
WHAT VENIER SAID
Snam's managing director, Stefano Venier, said that the Golar Tundra "alone will be able to contribute to approximately 6.5 per cent of national needs, bringing the Italian regasification capacity to over 25 per cent of demand".
The purchase of the FSRU was not easy because – as they explained on Startmag – there is an international competition for the grabbing of these ships, the availability of which is however limited. Venier added that Snam continuing "to work in search of a second FSRU of similar size, on which an exclusive negotiation is currently underway which is expected to be concluded by the end of June".
WHAT GOLAR LNG WILL DO WITH SNAM
The agreement with Golar LNG also provides for the latter to charter the Golar Tundra from Snam for a fee to use it as a transport ship for LNG: "for a limited period of time", is specified in the press release.
On 18 May, Snam and Golar LNG signed a contract for the installation of a LNG carrier (the Golar Arctic) in Portovesme, Sardinia, to perform storage and regasification functions.
ALL ABOUT GOLAR LNG
Golar LNG is a liquefied gas infrastructure company focused in particular on liquefaction, transportation, storage and regasification units. It is headquartered in Bermuda, a British overseas territory that is geographically closer to the United States than to the United Kingdom, and is listed on Nasdaq, the US electronic stock exchange.
Its main shareholders as of January 31st are Orbis Investment Management and Cobas Asset Management, two investment management companies – the first is based in Bermuda, the second in Spain – with stakes of 10.8 and 10.2 per cent respectively. . Rubric Asset Management, a British investment management company, follows with 6.4 per cent.
Among the shareholders of Golar LNG there is also the BlackRock fund, which owns 4.1 per cent of the shares. BlackRock is the largest shareholder of many of the major US liquefied gas exporting companies, such as Cheniere Energy, Tellurian and Sempra .
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/energia/snam-golar-tundra/ on Wed, 01 Jun 2022 10:12:51 +0000.