UK-based Stolt-Nielsen informed that its unit, Stolt-Nielsen Gas, has purchased 10 percent of the shares in HIGAS , with an option to acquire up to 80 percent of the company.
HIGAS is a joint venture between Gas and Heat and CPL Concordia, with plans to build and operate an LNG terminal and distribution facility in the port of Oristano, Sardinia, Stolt-Nielsen said on Thursday.
The project proposes a coastal facility with a storage and transfer capacity for 9000 cubic meters of methane-based gas products for industrial and commercial use. The facility will have six cryogenic horizontal storage tanks operating at low pressure.
The LNG is to be shipped to the terminal by LNG tankers capable of carrying 5000-7000 cubic meters of gas and distributed to customers via pipeline and trucks.
The terminal is expected to be completed in 2017.
LNG World News Staff; Image: Stolt-Nielsen