VTTI was given the opportunity to increase its shareholding in Adriatic LNG to 70%, which marks an important step in the company’s growth strategy. VTTI is making significant investments in LNG as part of its Strategy 2028, where the company aims to have at least 50% of its portfolio in transitional and clean energy infrastructure.

The demand for LNG is increasing in Europe. VTTI sees Adriatic LNG as a long-term investment that gives the company a strategic foothold in a very important energy market.

VTTI and Snam will ensure continuous support to Adriatic LNG, to enhance security of energy supply in Italy, the second largest gas consuming country in the European Union.

The transaction is expected to close in the second half of 2024.