Italy will fast track the permitting process to set up a new regasification vessel aimed at expanding the country's capacity to import LNG in an effort to cut its dependence on Russia, Rome told the European Commission.
In a letter to the EU Commissioner for the Environment, Italy's Ecological Transition Minister Roberto Cingolani said the project would be exempt from Rome's environmental impact assessment, which can slow down significantly the construction of infrastructure projects.
"Any delays or obstacles likely to prevent from timely implementation [of the regasification vessel] would be contrary to the interests of Italian citizens and would end up jeopardizing the country's energy security," the minister said in the letter posted on the website of Italy's special commissioner for energy infrastructure.
State-controlled gas grid operator Snam in June bought a floating LNG regasification terminal (FSRU) to support the country's effort to find alternative gas supplies.
Floating LNG regasification units allow a country to source natural gas from far-away areas, reducing the need to receive gas from usual suppliers through existing pipelines.
Under the government project, Snam's new vessel will be moored in the port of Piombino, in Tuscany, to be connected with the country's gas network by the spring of 2023.
The vessel has a capacity of 5 Bcm of gas a year and will remain in Piombino for three years before being placed offshore.
Italy last year bought around 29 billion cubic metres of Russian gas, equal to nearly 40% of its total gas import.
Recommended Reading
Exxon, Chevron Beat 3Q Estimates, Output Boosts Results
2024-11-01 - Oil giants Chevron and Exxon Mobil reported mixed results for the third quarter, with both companies surpassing Wall Street expectations despite facing different challenges.
BP Profit Falls On Weak Oil Prices, May Slow Share Buybacks
2024-10-30 - Despite a drop in profit due to weak oil prices, BP reported strong results from its U.S. shale segment and new momentum in the Gulf of Mexico.
Utica Oil E&P Infinity Natural Resources Latest to File for IPO
2024-10-05 - Utica Shale E&P Infinity Natural Resources has not yet set a price or disclosed the number of shares it intends to offer.
Woodside Reports Record Q3 Production, Narrows Guidance for 2024
2024-10-17 - Australia’s Woodside Energy reported record production of 577,000 boe/d in the third quarter of 2024, an 18% increase due to the start of the Sangomar project offshore Senegal. The Aussie company has narrowed its production guidance for 2024 as a result.
BKV Prices IPO at $270MM Nearly Two Years After First Filing
2024-09-25 - BKV Corp. priced its common shares at $18 each after and will begin trading on Sept. 26, about two years after the Denver company first filed for an IPO.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.