Snam and Golar LNG Limited (Golar) signed a contract through which Golar will deliver the existing LNG Carrier “Golar Arctic” as a floating storage and regasification unit (FSRU) that Snam will install in the port area of Portovesme, in Sardinia, as part of a project to supply the island with energy.

The contract, for a total consideration of 269 million euros, includes the vessel and the capex for Golar to convert the Golar Arctic into an FSRU with storage capacity for up to 140,000 cubic meters. Further to the full conversion of the vessel, the FSRU will be sold to the Snam Group.

Start of activities for the conversion of the ship into an FSRU and related fulfillments are subject to Snam’s issuance of a Notice-to-Proceed (NTP) and further to that the conversion is expected to take about two years for the Golar Arctic to be delivered.

About Golar LNG Ltd.

Golar LNG Limited (NASDAQ: GLNG) is one of the world's largest independent owners and operators of LNG carriers with over 40 years of LNG industry experience. Golar LNG together with Golar Partners own and manage a fleet of 26 LNG Carriers and FSRUs. Golar's innovation delivered the world's first Floating Storage and Regasification Units (FSRU) based on the conversion of existing LNG carriers. Golar's latest strategic move is to extend its business model further upstream by deploying its floating liquefaction technology (GoFLNG). The objective is to become the industry's leading integrated midstream LNG services provider, supporting resource owners, gas producers and gas consumers.

About Snam

Snam is one of the world’s leading energy infrastructure operators and ranks among Italy’s largest listed companies, by market capitalization. Through a sustainable and technologically advanced network, Snam guarantees the security of supply and is a key enabler in the energy transition. Through its international footprint Snam operates in Albania (AGSCo), Austria (TAG, GCA), France (Teréga), Greece (DESFA), Italy, UAE (ADNOC Gas Pipelines) and UK (Interconnector UK) and has recently started activities in China and India. Snam is also one of the leading shareholders in TAP (Trans Adriatic Pipeline).
Since 2001 Snam is a public company, listed in the FTSE MIB index of the Italian Stock Exchange.