Edison and PIR together for Small Scale LNG in Italy

3 Dec 2018 - ConferenzaGNL

Edison announces the establishment together with PIR (Petrolifera Italiana Rumena) of Depositi Italiani GNL, the newco (51% PIR, 49% Edison) that will make the coastal storage of Ravenna, first announced in September 2017, with an investment of 100 million euros. The two companies gave the announcement to the press on November 30th at the historic headquarter of Edison at the Foro Bonaparte in Milan.

The deposit, which will start to operate in 2021, will have a storage capacity of 20,000 cubic meters of LNG and will handle more than 1 million cubic meters of liquefied gas a year, making LNG available in Italy to fuel at least 12,000 trucks and up to 48 ferries a year. Edison will build the deposit and use 85% of its capacity (the remaining 15% will be sold to third parties by Depositi Italiani GNL).

PIR, historical operator of logistics and storage of the Port of Ravenna, as owner of the area of ​​Porto Corsini and concessionaire of the quay, will guarantee the surface rights for the use of the area, and will offer the services related to the use of quay and at the reception of the tankers.

At the same time, Edison signed a charter party agreement with Norwegian ship-owner Knutsen OAS Shipping for the construction and use of a ship that will transport LNG to coastal warehouses. With 30,000 cubic meters of capacity, this is one of the few ships in the world with such characteristics and will be able to charge LNG in all European terminals, in northern Europe as well.

The Edison’s small-scale LNG development plan involves the construction costal deposit system, of which the Ravenna’s plant would be the first one In addition to the already authorized Oristano plant, interest has been expressed for Naples and Brindisi as suitable locations for future investments. In Europe, 280,000 LNG trucks are expected to circulate in 2030, and 250 LNG-powered ships are currently operating or under construction.

Edison’s spokespersons stated that the company has a unique position in Italy with respect to the LNG value chain. Today it is the only long-term LNG importer in Italy and can therefore guarantee the continued and lasting availability of LNG in the territory thanks to a diversified portfolio and the opening of a new supply channel from the United States. Last year Edison signed an agreement with Venture Global to purchase about 1.4 billion cubic meters of LNG from the Calcasieu Pass plant in Louisiana ( the construction of which will begun by 2019, editor’s note).

Source: ConferenzaGNL

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