Snam, an Italian energy firm, has recently completed the acquisition of BW LNG’s FSRU, named BW Singapore, for approximately $400 million. This strategic move is set to enhance Italy’s energy security and supply diversification. ASaP will play a pivotal role in this project by equipping the FSRU with two advanced Phazers 1.0. These Phazers, exclusive to ASaP, feature a combination of an LNG probe and vaporizer with patented active sub-cooling technology. This ensures the complete prevention of partial and pre-vaporization of LNG in all conditions, ensuring superior analytical performance on determination of the LNG energy content during ship-to-ship transfer on the FSRU.
BW LNG’s FSRU The deal with Snam
The deal between Snam and BW LNG for the FSRU, which has a maximum storage capacity of about 170,000 cubic meters of LNG and a nominal continuous regasification capacity of about 5 billion cubic meters per year, was signed in July. Snam has now finalized the acquisition of 100 percent of the share capital of FSRU I Limited, the owner of BW Singapore.
The FSRU BW Singapore is set to be stationed off the coast of Ravenna, about 8 kilometers from the Punta Marina area. Snam has outlined that the unit is expected to commence operations in 2025, following the completion of the necessary permitting, regulatory processes, and infrastructure works for mooring and connecting it to the transportation network.
The future for BW LNG’s FSRU
In the coming months, Snam plans to initiate activities for contracting the LNG regasification capacity, which will gradually become available with the start of the FSRU operations. Stefano Venier, CEO of Snam, emphasized the significance of this acquisition, stating that it marks a crucial step towards bolstering Italy’s energy supplies in a dynamic global landscape.
The addition of BW LNG’s FSRU, alongside the 170,000-cbm Golar Tundra already operational in Piombino since July 2023, is set to increase Italy’s total regasification capacity from 25 percent to approximately 40 percent of the overall natural gas demand. This represents a substantial enhancement of Italy’s energy infrastructure.
BW LNG CEO Yngvil Åsheim has committed to supporting Snam with all necessary ship management and modification works to facilitate the FSRU’s operational readiness in Italian waters. The FSRU, which previously operated under a charter with Egas in Egypt until November, is currently en route to the UAE, as per its AIS data.
This acquisition and the technological upgrade with ASaP’s Phazers signal a significant advancement in Italy’s efforts to diversify and secure its energy resources, aligning with broader European energy strategies.