Milan, Italy | December 9, 2025 – Edison has announced the signing of a long-term charter contract with shipowner Knutsen OAS Shipping for a newly built, 174,000 cubic meter (cbm) Liquefied Natural Gas LNG carrier. The vessel will support the growth of Edison’s LNG portfolio and the Group’s strategy to diversify its energy sources.
The contract was formally signed at the shipowner’s headquarters in Haugesund, Norway. The new carrier will be built by Hanwha Ocean at its Geoje (Okpo) shipyard in South Korea and is scheduled to support Edison’s shipping activities starting in 2028.
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Strategic Fleet Expansion for Growing LNG Portfolio
The new LNG carrier will be added to Edison’s existing fleet, which manages and sources LNG cargoes under long-term Free on Board (FOB) contracts, a component of the Group’s energy transition strategy set for significant growth in the coming years.
Edison was the first to open a stable supply channel from the United States under a 2017 agreement. This year, the company secured a second contract to purchase approximately 0.7 MTPA of LNG (equivalent to about 1 billion cubic meters per year) from Shell International Trading Middle East Limited FZE, starting in 2028 for up to 15 years.
“We are working to strengthen strategic partnerships with our historical suppliers while increasing our international presence in the LNG value chain with the aim of ensuring diversification and operational flexibility to support Italian energy security,” said Fabio Dubini, Executive Vice President Gas & Power Portfolio Management & Optimisation at Edison.
Dubini added, “The expansion of our fleet, thanks to the valuable collaboration with Knutsen OAS Shipping, will allow us to manage the increasing volumes of LNG entering our portfolio in the coming years. This boosts our ability to promptly adapt supply to the demands of international markets and customers, benefiting the system’s liquidity and competitiveness, as well as the energy transition targets.”
Cutting-Edge Technology and Sustainability
The new tanker will be built according to the highest technological and sustainability standards, ensuring full compliance with the most recent international and European environmental regulations:
- Containment: Equipped with four latest-generation membrane tanks featuring high-efficiency insulation to minimise boil-off (the natural evaporation of LNG).
- Propulsion: Will feature a dual-fuel propulsion system (LNG and marine diesel).
- Efficiency: Includes shaft generators for more efficient use of onboard power and a full reliquefaction system, allowing for the complete recovery of boil-off gas to optimise consumption and emissions.
The vessel is specifically designed to meet current International Maritime Organization (IMO) regulations, as well as the new European FuelEU Maritime and EU ETS regulations, ensuring it operates competitively and is aligned with future environmental sustainability standards.
Strengthening Edison–Knutsen Partnership
This agreement further solidifies the partnership between Edison and Knutsen, which began in 2018 with the construction of the 30,000 cbm Ravenna Knutsen.
The Ravenna Knutsen is a highly flexible small-scale LNG carrier employed by Edison for supplying its small-scale depot in Porto Corsini (Ravenna) dedicated to sustainable mobility, as well as for ship-to-ship LNG bunkering operations. Its unique configuration has also allowed it to be deployed in supplying coastal regasification terminals during recent energy crises.
Currently, Edison imports over 14 billion cubic meters of natural gas into Italy annually, satisfying 23% of national demand through long-term import contracts from countries including Qatar, Libya, Algeria, Azerbaijan, and the United States.
About Knutsen OAS Shipping AS
Knutsen OAS Shipping AS is a privately owned, fully integrated Norwegian shipping company renowned for its specialisation in highly sophisticated energy transport, particularly within the Liquefied Natural Gas (LNG) and crude oil sectors. The company, which traces its roots back to 1895, operates one of the world’s largest fleets of purpose-built Dynamic Positioning (DP) Shuttle Tankers—vessels designed to load oil directly from offshore fields—and is a leading global operator of LNG carriers.
Knutsen is recognised for its heavy investment in cutting-edge, sustainable technology. The company leverages long-term contracts with first-class charterers globally, with a large and growing fleet that includes over 15 LNG carriers in operation and a strong newbuilding programme.
About Edison
Founded in Milan in 1883, Edison is Italy’s oldest energy operator and a leader in renewable and low-carbon energy production. Employing over 5,500 people, Edison operates across Europe in natural gas procurement and sales, sustainable mobility, and value-added energy services through Edison Energia and Edison Next. With a highly flexible and efficient power generation fleet totaling approximately 8 GW and a diversified LNG portfolio of 14 billion cubic meters per year, Edison continues to drive Italy’s energy transition, aligned with the UN Sustainable Development Goals.
Source: Edison