VTTI takes control of Adriatic LNG

// By Peter Mackay on 10 Apr 2024
VTTI takes control of Adriatic LNG

VTTI has reached agreement with Snam to increase its shareholding in Terminale GNL Adriatico Srl (Adriatic LNG) to 70%. Adriatic LNG operates an LNG receiving and regasification terminal located some 15 km of the Veneto coast in north-east Italy. The terminal accounts for around half of Italy’s current LNG import capacity and supplies some 14% of national natural gas demand.

VTTI is making significant investments in LNG as part of its Strategy 2028, where the company aims to have at least 50% of its portfolio in transitional and clean energy infrastructure. VTTI sees Adriatic LNG as a long-term investment that gives the company a strategic foothold in a very important energy market. The deal is expected to close in the second half of this year.

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