Snam announced the end of Venier’s term of office, effective June 30, in a statement last week.
Venier took over as the CEO of Snam in April 2022.
He will receive about 3.35 million euros ($3.83 million), including two yearly salaries and a bonus.
“This overall amount includes and replaces any termination indemnity due pursuant to law and/or contract,” Snam said.
Snam announced in a previous statement that it has appointed Agostino Scornajenchi as its CEO and general manager.
During Venier’s tenure, Snam launched two FSRU-based LNG terminals and boosted its stake in Italy’s Adriatic LNG terminal.
Snam recently launched commercial operations at its FSRU-based LNG import facility in Italy’s Ravenna.
The 2015-built 170,000-cbm FSRU BW Singapore is moored 8.5 kilometres offshore Ravenna.
Such as the 170,000-cbm FSRU Italis LNG, previously known as Golar Tundra, which operates in Piombino, BW Singapore has an annual regasification capacity of 5 billion cubic meters.
With this unit, Italy’s total regasification capacity rose to 28 billion cubic meters, equivalent to the volumes imported by pipeline from Russia in 2021, before the Russian-Ukrainian war, according to Snam.
Snam holds significant stakes in all the regulated LNG regasification terminals currently operating in Italy, including the Panigaglia terminal, the Adriatic LNG terminal, and the OLT FSRU Toscana terminal.
