HomeNewsKN to advise Italian Piombino LNG terminal builders

KN to advise Italian Piombino LNG terminal builders

3/13/2023

The operator of oil and liquefied natural gas (LNG) terminals KN (AB Klaipėdos nafta) is successfully expanding its activities in the rapidly growing international market of LNG import terminals. The Italian energy company Snam FSRU Italia has chosen KN to cooperate in the implementation of the greenfield FSRU-based LNG terminal project in the port of Piombino.

Having secured the name of a professional and reliable operator of LNG terminals and a project developer not only in Europe, but also worldwide, KN will help Snam to carry out the preparation and subsequent launch and testing of the floating LNG terminal.

The new LNG terminal in Tuscany, in the province of Livorno, in the port of Piombino on the west coast of Italy, is a strategic project in Italy that will help ensure the country's energy needs and increase security of supply and diversification.

The terminal project is based on the Golar Tundra technology of the floating storage and re-gasification unit (FSRU) purchased by Snam FSRU Italia. The capacity of the LNG vessel-storage facility reaches 170,000 cubic meters, and the nominal capacity is 5 billion cubic meters. cubic meters of natural gas per year.

Darius Šilenskis, CEO of KN, notes that in the expanding LNG market, the company is consistently looking for new opportunities to engage in international LNG projects, gradually more and more of them are opening up.

"I am pleased that KN, with its experience and knowledge, is helping Europe to increase its energy independence. Having done our homework in 2014 and ensured natural gas supply alternatives for Lithuania, today, being the main gas supply route to the Baltic region, we can get involved in the implementation of strategic projects of other European countries. We are starting this year with an excellent partnership with Snam FSRU for an equally strategic LNG terminal project.

Undoubtedly, one of the most important achievements of the past year was the decision of the German energy giant Uniper to choose KN to provide commercial operation services to the first floating LNG terminal in Germany in the port of Wilhelmshaven, on the North Sea coast," says the CEO of KN.

According to him, the growth of projects for the construction of LNG terminals, which has recently been observed in the market, contributes to the success. If, before the start of the Russian war in Ukraine, out of 23 potential projects for the construction of LNG terminals in Europe, only 6 were likely, then as the war in Ukraine continued, the number of such projects jumped almost three times - to 17.

"We receive requests from such project promoters regarding both consulting and operational or joint investment activities. Therefore, for us, such a clearly increased need for the development of LNG terminals in Europe opens up even more opportunities to use our existing knowledge and competencies to continue to actively search in the international space for additional new LNG projects, in which we would be chosen as consultants, operators, and in case of success, maybe even shareholders or investors," notes D. Šilenskis.

The company has so far contributed to more than 10 different LNG projects around the world, currently KN operates LNG terminals in Lithuania, Brazil, provides the services of a commercial LNG terminal operator in Germany.

 

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