Northern Italian region Friuli Venezia Giulia has backed Spain's Gas Natural (GAS.MC: Quote, Profile, Research, Stock Buzz) plan to build a liquefied natural gas (LNG) imports terminal there, the region said in a statement.
Earlier this year Gas Natural won an approval from Italy's Environment Ministry to build the regassifaction plant at the northern Italian port Trieste. But the project also needs the backing of local authorities.
The regional government has confirmed its interest in the project and its commitment to speed up the authorisation procedure, the regional government said in a statement after it met Gas Natural's senior executives on Tuesday.
Gas Natural and its partners had spent four years seeking environmental approval for the 8 billion cubic meters plant, which it estimated will cost 500 million euros ($646.7 million) and come on stream in 2012.
The regional government said the total investment in the project was about 600 million euros and Gas Natural would be able to start work in the first half of 2010 and start up the terminal about 40 months later.
The region said the ministry's approval had yet to be formalised as a decree and after that a debate at the regional level, involving about 20 local entities, would start.
Italy relies on natural gas imports to cover about 85 percent of its energy needs and seeks to deversify supplies by building LNG terminals and new pipelines. It has only one operating LNG terminal and the second one should come onstream in the middle of 2009.
Earlier this year Gas Natural won an approval from Italy's Environment Ministry to build the regassifaction plant at the northern Italian port Trieste. But the project also needs the backing of local authorities.
The regional government has confirmed its interest in the project and its commitment to speed up the authorisation procedure, the regional government said in a statement after it met Gas Natural's senior executives on Tuesday.
Gas Natural and its partners had spent four years seeking environmental approval for the 8 billion cubic meters plant, which it estimated will cost 500 million euros ($646.7 million) and come on stream in 2012.
The regional government said the total investment in the project was about 600 million euros and Gas Natural would be able to start work in the first half of 2010 and start up the terminal about 40 months later.
The region said the ministry's approval had yet to be formalised as a decree and after that a debate at the regional level, involving about 20 local entities, would start.
Italy relies on natural gas imports to cover about 85 percent of its energy needs and seeks to deversify supplies by building LNG terminals and new pipelines. It has only one operating LNG terminal and the second one should come onstream in the middle of 2009.