DNV supports the development of LNG transport and storage capacities in Italy
DNV recently advised Italian Snam Group (“Snam”) on its acquisition of two floating storage and regasification units (FSRUs) from Golar LNG and BW Gas Cyprus Limited (“BW”). DNV has carried out the buyer’s technical and environmental due diligence for these important assets, the Golar Tundra and the BW Singapore, which will play a key role in Italy’s energy security and diversification.
The two vessels can operate as both FSRUs and liquefied fossil gas (LNG) carriers, each with a storage capacity of 170,000 m³ of LNG and a nominal continuous regasification capacity of 5 billion m³/year. Their combined capacity should cover around 15% of Italy’s annual gas needs.
Although the EU should be able to move away from Russian oil and coal supplies relatively easily, reducing its dependence on Russian gas supplies requires investment in new infrastructure, as a large Part of the import capacity currently relies on pipelines transporting gas overland.
Although the phasing out of these imports will result in lower overall gas consumption (-9% in 2024, compared to DNV’s pre-war models), it will increase the share of imported LNG in the European gas mix, as it becomes an important part of Europe’s energy security strategy.
The current limitations of onshore regasification capacity (two to five years are needed to set up the necessary new infrastructure) have prompted several countries, including Italy, Germany and France, to expand their fleets of FSRUs and to develop new LNG terminals. Announcements were made in the spring calling for at least six new FSRUs across the Union – as many as there are now.
Our collaboration with Snam in 2022 is a major step in the direction of Italy’s energy security. We have experience in global FSRU development – having been involved in over 40 new build and FSRU conversion projects worldwide -, and our end-to-end independent technical expertise throughout the value of LNG has led us to publish a set of Practical Guidelines for LNG Operators, said Santiago Blanco, Executive Vice President and Regional Director Southern Europe, Middle East and Latin America, Energy Systems at DNV. Our goal is to provide the gas industry with the highest level of technical support and service to solve their toughest problems, on an accelerated schedule.
DNV’s consulting services for the FSRU segment include all stages of the asset life cycle, from project due diligence, design support, site selection and risk analysis, through to modeling and simulation of integrated ship machinery systems to help optimize energy efficiency, emissions, cost and safety, and cybersecurity.
DNV will be present at this year’s edition of Gastech in Milan, Italy, to showcase gas-related capabilities, innovations and projects in the energy and maritime sectors. Meet us at the Norway pavilion (North Blvd.).
Source: DNV, https://www.dnv.com/news/dnv-supports-the-development-of-lng-transport-and-storage-capabilities-in-italy-229860