Energy Companies Team-Up to Construct a New LNG Receiving Terminal in Italy

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). BG Group plc (Reading, UK) and ENEL SpA (NYSE:EN) (Rome, Italy) have joined forces to construct a new $470 million LNG receiving terminal in Italy (PEC 74000092). Both companies hold a 50 percent interest in the new entity, Brindisi LNG SpA (Rome Italy), which was established as a special purpose company to develop, finance, build, and operate the new terminal. The proposed LNG terminal to be located at Brindisi Port is expected to have an LNG receiving capacity of six million tons per year.

M.W. Kellogg Limited (London UK) has completed the front-end engineering and design contract. Brindisi LNG is expecting to award the E+P+C contract in June of 2004. Brindisi LNG expects to begin construction on the new LNG terminal in the forth quarter of 2004 with a targeted in-service date in late 2007.

BG has also announced its intent to construct a $700 million LNG receiving terminal at Waterston near Milford Haven, Wales in the UK, to be constructed during the 2005 - 2008 timeline (PEC 78000306).