Italian FSRU gets new 20-year lease on life

Italy’s floating regasification terminal operator OLT Offshore LNG Toscana, controlled by Snam and Igneo Infrastructure Partners, has secured a 20-year extension for the operation of its floating storage and regasification unit (FSRU) moored off the coast of Livorno.

The Italian player has disclosed that FSRU Toscana will remain in operation until the end of 2044 thanks to the 20-year authorization issued by the Italian Naval Registry (RINA).

The operator explained that a set of works aimed at extending the useful life of FSRU Toscana was carried out when the vessel underwent extraordinary maintenance in April and June, coming back online in November.

The terminal, which has an annual regasification capacity of 5 billion standard cubic meters, is fully booked until 2026/2027, the company stated.

The FSRU is moored about 22 kilometers off the coast between Livorno and Pisa, is connected to the national grid through a 36.5-kilometer long pipeline. The latter is operated and managed by Snam, of which about 29.5 kilometers is at sea, 5 in the floodway and the remaining 2 on dry land.