Milan — Italy’s Snam will buy a 48.2% stake in the liquefied natural gas terminal offshore the Tuscan city of Livorno, tightening its grip on key infrastructure to import the superchilled fuel, the gas transport operator said on Thursday.
LNG flows to Italy reached 18.7 billion cubic metres between January and November, meeting approximately one third of domestic gas demand, Snam said, adding the fuel has become an important tool to diversify energy supplies.
In the first nine months, LNG imports to Italy rose nearly 40% compared with the same period last year.
“This transaction is… crucial in strengthening Snam’s leadership in the LNG business, which today plays a strategic role in guaranteeing Italy’s energy security,” Snam Chief Executive Agostino Scornajenchi said in a statement.
The OLT terminal, which has an annual regasification capacity of around 5 billion cubic meters, is one of Italy’s five LNG hubs.
In addition to OLT, Snam holds controlling or co-controlling stakes in all regulated LNG terminals operating in Italy and said earlier this year it would set up a new LNG hub on the island of Sardinia.
Under Thursday’s deal, state-controlled Snam will pay 126 million euros ($147 million) to infrastructure fund Igneo to acquire the 48% stake and increase its shareholding in OLT to 97.3%.
The transaction is expected to be finalised in the first half of 2026 subject to regulatory approvals.
($1 = 0.8545 euros)
Reporting by Francesca Landini. Editing by Mark Potter – Reuters
