Italian energy infrastructure company Snam has signed an agreement with the shareholders of Higas to initiate a period of exclusive assessment and negotiation for the potential acquisition of 100 per cent of the company’s share capital.
The deal also includes plans for the expansion and conversion of Higas's current liquefied natural gas (LNG) coastal storage facility in Oristano, Sardinia, into a floating storage and regasification unit (FSRU).
Once finalised, the company said the acquisition would enable the injection of regasified natural gas from the future Oristano FSRU into the upcoming natural gas transmission network in Sardinia.
This network is planned to serve the industrial and thermoelectric districts in the central and southern parts of the island, as well as end-users in the provinces of Cagliari, Oristano, Medio Campidano, and Sulcis Iglesiente.
According to Snam, the new FSRU would also support the supply of the natural gas volumes necessary for the methanisation of Sardinia, while increasing the island's gas storage capacity by approximately ten times with respect to current levels.