Report: Uniper to sell its stake in Italian FSRU

Report: Uniper to sell its stake in Italian FSRU

Uniper has reportedly taken steps to sell its shareholding in OLT Offshore LNG Toscana, the company that owns and operates the FSRU Toscana about 22 km off the Italian coast between Livorno and Pisa.

The company that owns a 48,24 percent stake in OLT Offshore LNG Toscana, hired Goldman Sachs to facilitate the sale, Reuters reports, citing sources familiar with the agreement.

The deal is expected to come to fruition in the first half of 2017, however, no guarantees have been given that the sale will be completed.

Other shareholders in OLT Offshore LNG Toscana are Iren Group, with 49.07 percent stake and Golar LNG, with 2.69 percent.

The FSRU Toscana has a maximum regasification capacity of 3,75 billion cubic meters a year and a gross storage capacity of 137.500 cubic meters of LNG.

Being a regulated asset, sharing characteristics with regulated power and gas grids, sources expect the sale would attract significant interest.

At an expected valuation of €500 million (Approx: US$537 million) Uniper’s stake could attract buyers like Macquarie and First State Investments.

1 EUR = 1.07386 USD

 

LNG World News Staff

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