Snam to acquire Golar Tundra from Golar for $350m.

Snam, an energy infrastructure company, agreed to acquire Golar Tundra from Golar, a LNG infrastructure owner, for $350m. “With the purchase of the Golar Tundra, Snam is taking a decisive step to enhance the security and diversification of Italy’s energy supplies, in line with its mission. The role of the new FSRU for the benefit of our country will be essential: alone it will contribute to about 6.5% of domestic needs thus bringing the country’s regasification capacity to over 25% of the demand. Snam completed the transaction quickly and effectively in a highly competitive market due to the scarcity of supply and is continuing its efforts to acquire a second FSRU of a similar size, for which exclusive negotiations are currently under way and expected to be finalised by end of June,” Stefano Venier, Snam CEO.