BAKU, Azerbaijan, July 13. Snam has announced that construction on Ravenna's offshore regasifier is progressing on schedule, with the facility expected to be operational by the first quarter of 2025, Trend reports.
According to the company, the regasifier, located 8.5 km from Punta Marina, is on track to be completed by the end of this year. Land-based work is 90% complete, with 450,000 hours worked, while sea-based work is over 50% complete, totaling 800,000 hours. The floating LNG terminal is currently in Dubai for necessary adjustments before its final installation off the coast of Marina di Ravenna.
Since February 2024, the dismantling of the Petra platform has been ongoing, followed by the installation of a new mooring platform in mid-May. This structure, approximately 440 meters long and weighing over 14,000 tonnes, is a significant part of the project. Additionally, work on a 900-meter breakwater, currently in the tendering phase, is set to begin in August 2024 and be completed by October 2026. This will ensure the facility's safe and continuous operation under adverse weather and sea conditions.
These updates were shared at a press conference in Ravenna, featuring the Minister for the Environment and Energy Security, Gilberto Pichetto Fratin, the Mayor of Ravenna, Michele de Pascale, and Snam CEO, Stefano Venier. They discussed the roadmap for the arrival of the BW Singapore, a floating LNG terminal with an annual regasification capacity of 5 billion cubic meters. Purchased by Snam in July 2022, this terminal will significantly enhance Italy's regasification capacity, which will reach 28 billion cubic meters per year, equating to about 45% of the country's gas demand in 2023.
The increased capacity will match the volume of gas imported from Russia in 2021, thereby strengthening Italy's energy security. The project has also had a positive economic impact on the local area, with over 240 suppliers involved, more than 80 of which are based in Ravenna Province or Emilia-Romagna. Contracts awarded to local companies exceed 300 million euros, about 30% of the total investment.
Snam's annual operational costs for maritime services, maintenance, weather services, and monitoring will amount to EUR 30 million, benefiting the local economy. The project has created employment for 800 people, with more than 1,200 workers expected at peak activity.