Italy's Snam tightens grip on LNG terminal as liquefied gas imports rise

MILAN, ‌Dec 11 (Reuters) - Italy's Snam will buy a 48.2% stake ‍in the ‌liquefied natural gas terminal offshore the Tuscan city of Livorno, ⁠tightening its grip on ‌key infrastructure to import the superchilled fuel, the gas transport operator said on Thursday.

LNG flows to Italy reached 18.7 billion cubic metres between ⁠January and November, meeting approximately one third of domestic gas demand, Snam said, adding ​the fuel has become an important tool ‌to diversify energy supplies.

In the ⁠first nine months, LNG imports to Italy rose nearly 40% compared with the same period last year.

"This transaction is... ​crucial in strengthening Snam's leadership in the LNG business, which today plays a strategic role in guaranteeing Italy's energy security," Snam Chief Executive Agostino Scornajenchi said in a statement.

The ​OLT ‍terminal, which has an ​annual regasification capacity of around 5 billion cubic meters, is one of Italy's five LNG hubs.

In addition to OLT, Snam holds controlling or co-controlling stakes in all regulated LNG terminals operating in Italy and said earlier this year it would set ⁠up a new LNG hub on the island of Sardinia.

Under Thursday's deal, state-controlled Snam will ​pay 126 million euros ($147 million) to infrastructure fund Igneo to acquire the 48% stake and increase its shareholding in OLT to 97.3%.

The transaction is expected to ‌be finalised in the first half of 2026 subject to regulatory approvals.

($1 = 0.8545 euros)

(Reporting by Francesca Landini. Editing by Mark Potter)