Italian FSRU operator appoints chairman, CEO

Italy’s OLT Offshore LNG Toscana, the operator of the FSRU Toscana located off the coast between Livorno and Pisa, said that its board of directors has approved the appointment of Elio Ruggeri as its chairman and confirmed Giovanni Giorgi to the role of CEO.

In a statement released earlier this week, OLT thanked Maurizio Zangrandi for the work done during his tenure as CEO of the company.

Zangrandi and Giorgi previously worked as OLT’s managing directors, and the latter now became the CEO of the firm.

Giorgi, who has twenty years of operations and engineering experience in the offshore oil and gas industry, joined OLT back in 2003.

On the other side, OLT’s new chairman Ruggeri is also the chairman of GNL Italia and director for Snam’s LNG activities. He has over twenty years of experience in the oil and gas sector, according to OLT.

Italy’s Snam has a 49.07 percent stake in the LNG terminal, while Igneo Infrastructure Partners owns a 48.24 percent share.

Golar LNG that provided the FSRU has a minor 2.69 percent stake in the LNG import facility.

The FSRU has a storage capacity of 137,100 cbm and a regasification capacity of 3.75 bcm a year. It sends regasified LNG to Italy’s national grid via a 36.5 kilometers long pipeline.

Strong interest in regas capacity

OLT recently said that companies had booked a big chunk of regasification capacities at its FSRU, following the completion of a multi-year allocation processes.

Since the start of commercial operations in December 2013 and until the end of the first quarter this year, the facility received LNG from ten different countries.

A big part of the supplies or 45 percent came from the US, OLT Offshore said.

Other sources include Algeria (11 percent), Qatar (9 percent), Egypt and Nigeria (7 percent each), Trinidad and Tobago and Nigeria (6 percent each), Equatorial Guinea (4 percent), Cameroon and Peru (1 percent each).

- Advertisements -

Most Popular

ExxonMobil working on larger Rovuma LNG export project in Mozambique

US energy giant ExxonMobil has boosted the capacity of the planned Rovuma LNG onshore terminal in Mozambique and is...

Sempra takes FID on Port Arthur LNG project

US LNG player Sempra Infrastructure, a unit of Sempra, has taken a final investment decision for the first phase...

Excelerate to buy FSRU from Maran Gas

US floating LNG player Excelerate Energy plans to exercise an option to buy the 2020-built FSRU Sequoia from Greece’s...

More News Like This

Italy’s Snam says most of Piombino FSRU capacity booked

Italian energy firm Snam has allocated most of the regasification capacity at the FSRU-based LNG import terminal in the...

Snam CEO says Piombino FSRU terminal on track to start operations in May

Italy's Snam is still expecting to launch the FSRU-based LNG import terminal in the port of Piombino in May,...

Snam: 2022 net profit drops, regas volumes jump

Italian energy firm Snam said its adjusted net profit dropped in 2022, while LNG regasification volumes at its Panigaglia...

Italy’s Adriatic LNG terminal gets 1000th cargo

Italy’s Adriatic LNG terminal, owned by ExxonMobil, QatarEnergy, and Snam, has received the 1,000th shipment at its facility in...