Portovesme FSRU

This article is part of the Global Fossil Infrastructure Tracker, a project of Global Energy Monitor.

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Portovesme FSRU is a floating storage and regasification unit proposed in the port area of Portovesme, Sardinia, Italy.

Location

The terminal is proposed to be located in the port area of Portovesme, Sardinia, Italy.

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Project details

• Operator: SNAM SPA

• Owner: SNAM SPA

• Parent company: SNAM SPA
• Vessel:
  • Formerly Formerly Golar Arctic
• Vessel operator:
• Vessel owner:
  • Formerly Golar LNG
• Vessel parent company:
  • Formerly Golar LNG

• Location: Port area of Portovesme, Sardinia, Italy

• Coordinates: 39.195612, 8.391925 (approximate)

• Capacity:

• Status: Proposed

• Type: Import

• Start year: 2024

• Financing:

• FID status: Pre-FID

• Associated infrastructure:

Background

SNAM expressed interest in a second (following HIGAS LNG Terminal) import terminal on the island of Sardinia in February 2021.

In May 2022, Golar LNG signed a deal with SNAM to convert its LNG carrier, known as "Golar Arctic", into a floating storage and regasification unit for SNAM. Once the conversion is completed, the vessel will be sold to SNAM. The contract was priced at 269 million euros (283.3 million USD). In 2022, Golar stated that the conversion and delivery of the FRSU would be complete by 2024.

According to 2022 news reports, the project is a part of the Italy's plans to boost LNG imports, replacing Russian oil and gas, following the invasion of Ukraine.

In August 2023, LNG Prime reported that Golar LNG's deal to covert the Golar Arctic into an FSRU had fallen through because SNAM had not issued a notice to proceed. According to Golar's CEO, “This option lapsed in July and we are now reviewing alternatives for [the vessel], including long-term charter or asset sale.”