Newco “Livorno LNG Terminal” established

In latest days  the newco “Livorno LNG Terminal SpA” has been jointly established by Italian companies  Costiero Gas Livorno SpA (a joint-venture fifty-fidty between Enifuel SpA and Liquigas SpA) and Neri Vulcangas Investimenti Srl (a joint-venture between Neri Depositi Costieri SpA with a share of 55%, and Società Italiana Gas Liquidi SpA – Vulcangas, with the remaining 45%, with the aim of building a LNG coastal storage within the Port of Livorno. The total investment estimated by the shareholders of Livorno LNG Terminal is 50 million euros and the project has already been judged co-financed by the European Commission under the Gainn4Sea program. At the helm of the newco has been appointed as Chairman Alessandro Gaeta, manager of Eni with assignments in the development of the LNG business, while the position of Chief Executive Officer has been assigned to Corrado Neri. Among the other members of the Board of Directors figure Andrea Allegranti (famiglia Neri), with Andrea Arzà, Lorella Di Cosmo, Costantino Amadei and Giacomo Fabbri. The new structure, with an initial capacity of 4,500 cubic meters that in a second phase will then be brought to 9,000 cubic meters will rise “in a strategic position of the port of Livorno and can create synergies also with other similar facilities in the area” (the reference is to the regasification plant of of OLT Offshore LNG Toscana  near the Port of Livorno.