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According to a statement by Edison, the newly built carrier will be constructed by Hanwha Ocean at its Geoje yard in South Korea and, according to the terms of the contract, will support Edison’s shipping activities from 2028.
Edison did not reveal further information regarding the charter deal.
The 174,000-cbm vessel will join Edison’s fleet for the management and supply of LNG cargoes under its long-term FOB (free on board) contracts.
In fact, after being the first to open a stable supply channel from the United States under a 2017 agreement, Edison announced the signing of a second contract this year for the purchase of approximately 0.7 mtpa of LNG, equivalent to approximately 1 billion cubic meters per year, starting in 2028 and for a period of up to 15 years from Shell.
“We are working to strengthen strategic partnerships with our long-standing suppliers and, at the same time, to increase our international presence in the LNG supply chain with the aim of ensuring diversification and operational flexibility in support of Italian energy security,” said Fabio Dubini, executive VP of gas and power portfolio management and optimisation at Edison.
“The expansion of our fleet, thanks to our valuable collaboration with Knutsen OAS Shipping, will enable us to manage the growing volumes of LNG that will enter our portfolio in the coming years, increasing our ability to promptly adapt supply to the demands of international markets and customers, benefiting the system’s liquidity and competitiveness, as well as the energy transition targets,” Dubini said.
Further strengthening cooperation
Edison noted that the new agreement further consolidates the partnership between Edison and Knutsen.
The collaboration between the two groups began in 2018 with the construction of a 30,000-cbm vessel.
Ravenna Knutsen is an LNG carrier used by Edison to supply the Corsini port in Ravenna with a small-scale depot dedicated to sustainable mobility and to refuel (bunkering) other ships with LNG.
Its configuration allows it to adapt to different types of storage facilities and vessels, which is why it has also been used to supply coastal regasification terminals during recent energy crises, Edison said.
Today, Edison imports approximately 14 billion cubic meters of natural gas per year into Italy, with import contracts from Qatar (6.4 billion cubic meters), Libya (4.4 billion cubic meters), Algeria (1 billion cubic meters), Azerbaijan (1 billion cubic meters), and the US (1.4 billion cubic meters), meeting 23 percent of domestic demand.