According to a statement by Snam, the total consideration of the acquisition, including Igneo’s interest as well as the remaining part of the shareholder loan provided by Igneo to OLT, is equal to approximately 126 million euros ($147.2 million).
Snam said 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 deal, Snam will hold a total stake of 97.3 percent, resulting in the consolidation of OLT in Snam’s financial statement, it said.
Golar LNG, which provided the 2003-built FSRU, has a minor 2.69 percent stake in the LNG import facility.
Operating since 2013, OLT contributes to the security of the Italian energy system through the FSRU located about 22 km offshore Livorno with a total yearly capacity of around 5 billion cubic meters (bcm), increased in 2024 from the previous 3.75 bcm, and corresponding to approximately 8 percent of Italy’s overall gas demand, Snam noted.
Snam boosting LNG business
“Liquefied natural gas (LNG) provides a key contribution to the diversification of energy supplies to Italy. As of the end of November 2025, LNG imports in Italy reached 18.7 bcm, meeting approximately one third of overall domestic gas demand, with 205 vessels from more than 10 different countries reaching the five regasification terminals in the country,” said Snam’s CEO Agostino Scornajenchi.
“This transaction is therefore crucial in strengthening Snam’s leadership in the LNG business, which today plays a strategic role in guaranteeing Italy’s energy security. In a volatile and uncertain global context, this allows Snam to significantly diversify natural gas supply routes and sources, ensuring flexibility and continuity of supply towards domestic and international markets, leveraging Italy’s strategic geographic position at the crossroads of the main gas flows to Europe,” he added.
Before this move, Snam also signed an agreement for the potential acquisition of the Higas small-scale LNG terminal located on the Italian island of Sardinia.
Snam plans to install a floating storage and regasification unit (FSRU) at the facility in cooperation with Hoegh Evi.
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.
