As major import capacity gains in Europe continue to change the regional market, Italy’s Snam SpA has completed the purchase of the floating storage and regasification unit (FSRU) BW Singapore ahead of its start-up on the eastern Italian coast in 2025.

Snam disclosed it paid BW LNG $400 million for the 5 billion cubic meters/year import capacity FSRU planned to be connected to its transmission infrastructure at the developing Ravenna LNG terminal. There have been plans to add a liquefied natural gas terminal at Ravenna since at least 2017 by various Italian companies, but development accelerated in the wake of last year’s invasion of Ukraine as Snam looked for ways to increase LNG imports around the country.

“By finalizing the BW Singapore acquisition, Snam takes another...