Italian state-controlled gas grid operator Snam has agreed to acquire Igneo Infrastructure Partners’ 48.2% interest in the company operating the FSRU Toscana offshore Livorno.
The total consideration for the acquisition, including Igneo’s interest and the remaining portion of the shareholder loan provided by Igneo to the FSRU operating company, Offshore LNG Toscana (OLT), is approximately €126m ($148m).
The transaction is expected to be finalised within the first half of 2026, subject to customary regulatory approvals, including obtaining the necessary authorisations under applicable Italian antitrust and golden power regulations.
Upon the closing of the transaction, Snam will hold a total stake of 97.3%, resulting in the consolidation of OLT in Snam’s financial statements.
The FSRU is located about 22 km offshore Livorno, with a total yearly capacity of around 5 bcm, up from 3.75 bcm in 2024 and corresponding to approximately 8% of Italy’s overall gas demand.
In addition to OLT, Snam holds controlling or co-controlling stakes in all regulated LNG regasification terminals operating in Italy, including the Panigaglia onshore terminal, the Adriatic LNG terminal, the Italis FSRU, and the BW Singapore FSRU operating off Ravenna.
As of the end of November 2025, LNG imports in Italy reached 18.7 bcm, meeting approximately one-third of the overall domestic gas demand, with 205 vessels from more than 10 different countries reaching the five regasification terminals in the country.
