Italian regulators have given the green light to start the construction and operation of an LNG import terminal in Porto Marghera in Venice
Venice LNG, a subsidiary of the Decal Spa Group, has received the authorisation degree from the Italian Ministry of Economic Development in agreement with the Ministry of Infrastructures and Transport.
With a storage capacity of 32,000 m3, the Venice LNG import terminal will be a brownfield development in the South Industrial Canal of Porto Marghera.
Venice LNG called the regulatory green light a “step forward in the fuel infrastructure for road and marine transport.”
Financing for the project comes from a private investment of over €100M (US$121M) by Decal Spa Group, with an additional €18.5M (US$22.3M) through the North Adriatic Sea Port Authority and co-financed by the European Commission under the CEF (Connecting Europe Facility) initiative through the “Gainn4SEA” and “Venice LNG Facility” projects.
LNG will be transported to the Venice LNG import terminal via small- and medium-sized LNG carriers, with a maximum capacity of 30,000 m3, and will be distributed on tank trucks, ISO-tanks and LNG bunker barges. Venice LNG anticipates that annually, no more than 50 LNG carriers – about one per week – will call at the facility.
Venice LNG president and chief executive Gian Luigi Triboldi noted the project went through a long technical-administrative path, involving many national and local authorities and stakeholders. “Now, we are ready to give our contribution to promote the use of LNG, which plays a key role in the energy transition process,” said Mr Triboldi.
Venice LNG expects to handle 150,000 m3 of LNG per year in its first phase, with a maxium output of 900,000 m3. Construction is expected to take two years.
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