ENEL Acquires Control Of Porto Empedocle Regasification Terminal

abarrelfullabarrelfull wrote on 05 Jun 2014 08:00

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6 July 2007

Following up on the agreements reached in December 2005, Enel Trade has completed the acquisition of 90% of Nuove Energie Srl, which is developing a regasification terminal at Porto Empedocle (AG).

With the acquisition, Enel confirms its objective of building a new regasification terminal, an essential part of diversifying energy sources, boosting the flexibility of supply and enhancing the security of Italy’s gas system.

As part of this strategy, Enel has been an active player in the LNG market and already has supplies for the Porto Empedocle plant.

Construction of the plant will involve an estimated investment of more than 600 million euros, with the facility scheduled to enter service in 2011.

The process of obtaining authorisations is at an advanced stage, as the Ministry for the Environment has already issued a positive environmental impact opinion for the land works and given the safety feasibility approval envisaged under the Seveso Law.

Enel CEO, Fulvio Conti, remarked: “the Porto Empedocle plant is a leader in safety and environmental impact – to date it is the only one to use underground tanks – and the construction of the planned marine infrastructure to complete the port will help foster commercial and tourist development for the entire area”.

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