ExxonMobil (XOM) Nears Deal to Sell Adriatic LNG Stake to Vitol

Exxon Mobil Corporation (XOM) and QatarEnergy are reportedly in advanced discussions to divest their majority stake in Adriatic LNG, Italy’s largest liquefied natural gas (LNG) import terminal, to Vitol, per a Reuters report.This transaction could mark a pivotal shift for Vitol, granting it a substantial role in the European LNG market at a time when Italy’s LNG inflows are witnessing an upward trend.Adriatic LNG, officially known as Terminale GNL Adriatico Srl, is strategically positioned off the Adriatic ...