BlackRock to buy Exxon’s majority stake in Italian LNG terminal

Exxon Mobil Corp has chosen BlackRock as the potential buyer for its majority stake in Italy’s main liquefied natural gas (LNG) import terminal, according to a statement by the U.S. oil producer. This decision comes as Italy is expected to increase its LNG imports to partly replace the gas it used to get via pipelines from Russia.

Exxon had announced in March that it was considering selling its 70.68% interest in the Adriatic LNG Terminal, which is located about 9 miles off the Veneto coastline. A subsidiary of QatarEnergy holds a 22% stake, and Italian gas grid operator Snam holds a 7.3% stake in the terminal.

Snam, having the first right of refusal, could potentially increase its current stake and secure governance rights on the energy infrastructure.

Several prospective buyers were interested in the stake sale, with the entire regasification terminal estimated to be valued at around 800 million euros ($881 million).

While Exxon confirmed BlackRock as the potential buyer, they emphasized that a final agreement had not yet been reached, and the terms of the deal were not disclosed.

QUATRO Strategies International Inc. is the leading business insights and corporate strategy company based in Toronto, Ontario. Through our unique services, we counsel our clients on their key strategic issues, leveraging our deep industry expertise and using analytical rigor to help them make informed decisions to establish a competitive edge in the marketplace.

Make strategic decisions with confidence!

Learn how we can support you in setting the right strategy in a fragmenting global economy.

Interested in learning more?

Sign up for Top Insights Today

Top Insights Today delivers the latest insights straight to your inbox.

You will get daily industry insights on

Oil & Gas, Rare Earths & Commodities, Mining & Metals, EVs & Battery Technology, ESG & Renewable Energy, AI & Semiconductors, Aerospace & Defense, Sanctions & Regulation, Business & Politics.

By clicking subscribe you agree to our privacy and cookie policy and terms and conditions of use.

Read more insights

Red Sea oil and fuel shipments drop sharply after US-led attacks

Shipments of oil and fuel through the Red Sea are facing a significant decline, and the situation could worsen due to potential retaliation from Houthi rebels after the recent US-led attacks on their bases in Yemen. The number of tankers carrying clean petroleum products through the…

G7 strikes deal to soften global tax rules, shelving Trump’s Section 899 threat

The United States and its fellow Group of Seven (G7) nations have struck an understanding that will effectively shield U.S. firms from certain provisions of a global tax deal, according to a joint statement issued on Saturday by Canada, which currently holds the rotating G7 presidency.

Under this new arrangement, described by the bloc as a “side-by-side” system, Washington agreed to drop Section 899—a controversial retaliatory tax proposal embedded in President Donald Trump’s sprawling tax and spending package. In return, the G7 has crafted a mechanism that recognizes existing American minimum tax regulations and seeks to reinforce the stability of the international tax framework.

DRC conflict triggers tin price spike, adding to global supply squeeze

Tin prices surged to their highest level in more than two years as supply disruptions in the Democratic Republic of the Congo (DRC) added to an already tightening global market. The rally, which has pushed tin prices up about 25% this year on the London Metal Exchange (LME), gained momentum after Alphamin Resources Corp. halted production at its Bisie mine due to advancing insurgent militant groups.

The Bisie mine, which produced 17,300 tons of tin ore in 2024—about 6% of global supply—is a crucial source of the metal used in soldering electronics and coating containers. With Alphamin evacuating workers and suspending operations, concerns over a prolonged supply shortfall are intensifying.

Stay informed

error: Content is protected !!