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Snam announced in its 2025 financial results report that it entered into an agreement with Golar Offshore Toscana on Wednesday to acquire the latter’s 2.69 percent interest in OLT.
Golar provided the 2003-built 137,100-cbm FSRU, which is located offshore Livorno.
The closing of the Golar transaction is expected in the coming days, according to Snam.
In addition, Snam completed the previously announced purchase of Igneo Infrastructure Partners’ 48.2 percent interest in OLT.
The acquisition was completed on March 2.
The closing of the Igneo Transaction took place following the receipt of the relevant regulatory authorizations and enabled Snam to increase its interest in OLT to 97.31 percent of the share capital.
Snam said the total consideration for the transactions, including the interests held by Igneo and Golar and the residual portion of the shareholders’ loan granted by Igneo to OLT, amounts to approximately 129 million euros ($149.7 million).
The company previously said that the Igneo acquisition is worth approximately 126 million euros.
Operational since 2013, OLT contributes to the security of the Italian energy system through the FSRU located about 22 km off the coast of Livorno, with a total annual regasification capacity of about 5 billion cubic meters, increased in 2024 compared to the previous 3.75 bcm.
This is equivalent to almost 8 percent of Italy’s total gas demand, Snam noted.
In addition to OLT, Snam holds controlling or co-controlling stakes in all regulated LNG regasification terminals operating in Italy.
These include the Panigaglia onshore terminal (100 percent stake), operating since 1971 near La Spezia, the Adriatic LNG terminal (30 percent stake), operating since 2009 offshore Rovigo, the Italis FSRU (100 percent stake), operating since July 2023 offshore Piombino, and the BW Singapore FSRU (100 percent stake), operating since May 2025 offshore Ravenna.
Regas volumes jump
During 2025, with its fully consolidated assets (Piombino, Panigaglia, and Ravenna), Snam’s LNG regasification volumes reached 7.73 billion cubic metres, almost doubling compared to 2024 (+74.5 percent).
Snam said in its financial report that a total of 106 tanker unloadings were carried out, compared to 62 in the previous year.
This “strong” growth was primarily driven by the start‑up of the Ravenna FSRU, commissioned in May 2025, which has confirmed its operational readiness with 1.72 billion cubic metres of LNG volumes regassified and 17 vessels arrived in 2025, reaching near-full slot utilization since the start of operations, it said.
Additional contributions came from higher regasification volumes at the Panigaglia regasification terminal and at Piombino, reflecting the increasing role of LNG in ensuring security of supply, Snam said.
Overall in Italy, in 2025, LNG imports exceeded 20 billion cubic meters, covering about a third of the total national gas demand, with 221 ships from over ten countries reaching the five regasification terminals on Italian territory, the company added.
