Rovigo, December 3rd, 2024 – Terminale GNL Adriatico S.r.l., also known as Adriatic LNG, the company which operates the regasification terminal located off the coast of Veneto, the largest LNG terminal in Italy and among the most important ones in the Mediterranean area, announced today that VTTI and Snam have finalized the acquisition, already announced earlier in April, of the Company’s shares previously held by ExxonMobil Italiana Gas S.r.l. and Qatar Terminal Company Limited.

Specifically, VTTI, a Dutch company based in Rotterdam operating and developing energy infrastructure, including energy storage terminals, LNG regasification terminals, Renewable Natural Gas facilities, and hydrogen infrastructure, acquired 70% of the share capital.

On the other hand Snam, Europe’s leading gas infrastructure operator, increased its stake in Adriatic LNG from 7.3% to 30%.

Additionally, the new Board of Directors has officially taken office today, appointing Alexandra Thomas as Chief Executive Officer (CEO). Alexandra Thomas succeeds Tim Kelly, who is warmly thanked by Adriatic LNG for his valuable contribution over the six years he led the company.

Alexandra Thomas is British and has over 20 years of experience in the oil and gas sector. She began her career at Shell and Equinor before moving to the Irish company Tullow Oil, where she held senior positions in the UK, the Netherlands, Norway, and West Africa. From 2020 to 2024, she served as Managing Director UK and Managing Director Egypt at Neptune Energy a UK company active in hydrocarbon exploration and production, now part of the Eni group.

“I am proud to join a company that represents excellence in our sector, consistently achieving outstanding operational results over the years, thanks to a highly professional environment and a one-of-a-kind, technologically advanced terminal” - said Alexandra Thomas. Our priority will be to ensure the continuity of operations in full safety, maximizing the work done so far, which underpins the exceptionally high reliability rate that sets us apart. We face many challenges ahead, but I am confident that, through everyone's commitment, we will further strengthen Adriatic LNG's role as a key resource for energy security at both national and European levels.”

The new Board also appointed Alessandro Conta as Chief Operations Officer (COO). With over 16 years of experience in the sector and a long career at Snam, Conta has held various roles focused on managing gas transportation, compression, and storage facilities. Recently, he served as Operations & Maintenance Manager for Snam’s 22 storage and compressor plants in Italy.

It is a great honor for me to join the leadership team of Adriatic LNG as Chief Operations Officer. I am looking forward to offering my expertise to help ensure the best management in terms of technology, safety and reliability of such a strategic infrastructure for the Italy's energy security” - stated Alessandro Conta.

The new corporate structure marks an important step in the company’s growth strategy, consolidating its position as a national leader in the regasification of liquefied natural gas (LNG).

Since 2009, the Adriatic LNG terminal has delivered over 100 billion cubic meters of gas into the national pipeline network, receiving over 1,000 LNG carriers from more than 10 countries. With an authorized maximum regasification capacity of 9.6 billion cubic meters per year, equivalent to about 14% of the current national gas demand, a utilization rate of 88% in 2023, and an operational reliability rate of 99.6%, the Adriatic LNG terminal holds a strategic role in the Italian and European energy systems. Furthermore, it is the only terminal in Italy able to receive LNG carriers up to 217,000 liquid cubic meters (so-called “Q-flex” or "super large-scale LNG vessels"), among the largest available in the market, with evident benefits in terms of optimizing discharged volumes.