Italy is taking a significant step to bolster its energy security. Snam, the national energy infrastructure company, announced on the 28th (local time) that the Floating Storage and Regasification Unit (FSRU) 'BW Singapore', moored 8.5 km off the coast of Punta Marina in northeastern Italy, has completed its readiness for operation.
Following the arrival of the 'Flex Artemis' vessel carrying US LNG on the 3rd, commissioning work on the facility has commenced in earnest ahead of the scheduled commercial operation start in early May. This was confirmed on the 9th by Snam CEO Stefano Venier during a visit to the offshore terminal by Gilberto Pichetto Fratin, Minister of Environment and Energy Security, and Michele de Pascale, President of the Emilia-Romagna Region.
"The start-up of the Ravenna terminal is another very important element in the effort to secure national energy supplies that began after the Russia-Ukraine crisis," emphasized CEO Venier. "Thanks to the joint effort of national and local institutions and companies, we are proceeding according to schedule, demonstrating that this can be done in parallel with environmental protection and monitoring."
The BW Singapore, acquired by Snam in July 2022, has a regasification capacity of 5 billion cubic meters (bcm) per year, similar to the 'Italia LNG' terminal currently operating in Piombino. Once the Ravenna terminal is fully operational, Italy's total regasification capacity will increase to 28 bcm per year. This is equivalent to the amount of gas imported from Russia in 2021 and is a scale capable of meeting 45% of future domestic gas demand. In particular, it is expected to minimize the impact of heightened global geopolitical tensions through supply chain diversification.
The Crucial Role of LNG
LNG continues to play a pivotal role in the diversification of Italy's energy system. In 2024, LNG met a quarter of Italy's gas demand, with approximately 150 LNG carriers from about ten countries arriving at Italy's four regasification terminals. With the addition of the Ravenna terminal, Italy will operate a total of five LNG regasification facilities. This trend has continued into the current year, with 45 gas carriers from six countries entering Italy in the first quarter of 2025 alone.
Contribution to Local Economic Revitalization
The Ravenna regasification terminal project involved a total investment of over €1 billion. During peak construction, it employed up to 1,200 people. Snam anticipates that cooperation with all stakeholders in the port system and related services will be crucial during the operational phase, just as it was during construction. Snam estimates that the terminal's operation will generate approximately €20-30 million annually in costs for technical and navigation services, platform management, and environmental monitoring, a level similar to that of the Italia LNG terminal in Piombino.
Environmental Protection as a Top Priority in Design
The Ravenna FSRU project was designed with the utmost consideration for natural areas, respecting protected zones and minimizing land use. Construction methods were also applied in compliance with the geological, geomorphological, hydrogeological, and seismic characteristics of the area, as well as relevant planning regulations.
Throughout the project's construction, Snam adopted the strictest sustainability and environmental protection standards for both onshore and offshore operations. Efforts focused on maximizing the use of existing onshore and offshore assets, electrifying all electricity consumption, and reducing the impact on the coastline by using trenchless technology for pipeline installation. Furthermore, extensive environmental monitoring, encompassing 70,000 points onshore and 20,000 points offshore, was conducted, with the participation of over 20 external companies, 3 universities, and 10 analysis laboratories, enhancing its reliability.
About Snam
Snam is a leading European operator with approximately 38,000 km of natural gas transmission network in Italy and abroad. It also operates in gas storage, with over 17% of European storage capacity, and in regasification, with a capacity of 13.5 bcm per year, which it plans to expand to 18.5 bcm per year by 2025 with the start-up of the Ravenna terminal. Snam aims to be a multi-source operator at national and European levels by developing and integrating energy infrastructure systems for a sustainable future in the medium to long term, focusing on innovation and the central role of gas in the energy transition. Snam is one of the leading listed companies in Italy by market capitalization.
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