In a contract worth 269m energy company Snam and Golar LNG Limited (Golar) will collaborate to supply the island of Sardinia with liquefied natural gas.

Source: Snam

The existing LNG Carrier ‘Golar Arctic’ will be delivered by Golar to be installed as a floating storage and regasification unit (FSRU) by Snam in the port area of Portovesme. 

The contract includes the vessel and the capex for Golar to convert the Golar Arctic into an FSRU – subject to Snam’s issuance of a Notice-to-Proceed (NTP) - with storage capacity for up to 140,000m3

After conversion, which is expected to take two years, the FSRU will then be sold to the Snam Group.