Stolt-Nielsen has purchased 10% of the shares in HIGAS, a joint venture with plans to build and operate and LNG terminal in Sardinia.
Stolt’s subsidiary Stolt-Nielsen Gas, which purchased the 105 shares, also has the option to acquire up to 80% of the company, which is a joint venture between Gas and Heat and CPL Concordia Soc. Coop.
There are plans in place to build and operate an LNG terminal and distribution facility at the port of Oristano. The LNG will be shipped to the terminal by LNG tankers and distributed to customers via pipeline and trucks. The terminal is expected to be completed by 2017.
Stolt-Nielsen’s LNG Holdings’ president Andrew Pickering says: ‘This joint venture represents SNL’s third strategic investment in the LNG segment, where our focus is on meeting what we call ‘stranded demand’ for LNG.
‘Sardinia, which is not served by a gas pipeline, is a perfect example. With demand for natural gas rising on Sardinia, small-scale LNG imports represent an attractive solution.’