Vtti, a Dutch group active in energy storage and the development of energy infrastructure, and Ikav, a German asset manager, have formed a consortium to acquire the majority share of Adriatic Lng, the company that manages the Rovigo regasification terminal. The closing of the transaction is expected in the second half of 2024.
The shares that Vtti – a company owned by Vitol, Ifm Investors and Adnoc – and Ikav intend to purchase are those of ExxonMobil (70.7%) and QatarEnergy (22%).
«Both Vtti and Ikav have a long-term strategic vision on the terminal and will evaluate any further growth opportunities in the country», write the two operators in a joint note, which adds: «The consortium will guarantee the continuity of operational activities and a constant support to Adriatic Lng, to strengthen the security of energy supplies in Italy, the second largest consumer country of natural gas in the European Union”.
Snam’s share
Snam remains with 7.3% of the shareholding. In January, at the presentation of the 2023-2027 strategic plan, CEO Stefano Venier said: «On Adriatic Lng there is an agreement made with the current shareholders, so in the event of an extraordinary operation we will have the option to increase our share, if the conditions are right, 15 or 30%. These two options are accompanied by a balanced redefinition of our role in society, where we believe there can be a contribution on the technical side, as we are managers of four other regasification facilities”.
From the moment the transfer agreement is finalized, Snam has 45 days to decide whether and to what extent to increase.
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2024-03-27 14:42:35
