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).

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