26th Aug 2025 21:58
(Alliance News) - Reabold Resources PLC on Tuesday said LNEnergy Ltd's small scale liquefied natural gas development plan in Colle Santo, Italy, has reached a key regulatory milestone.
The investor focused on developing strategic gas projects for European energy security owned a 46.2% stake in LNEnergy as of July.
LNEnergy's plan has been granted a positive opinion by the Independent Environmental Impact Assessment Commission of the Italian Ministry for the Environment & Energy Security.
This is a "significant milestone", said Reabold, towards the final EIA ministerial decree and the award of the natural gas production concession, the achievement of which will enable LNEnergy to operate two existing gas wells.
It will also enable the development of the Colle Santo project to produce liquified natural gas for maritime and road transportation.
"As one of the largest onshore gas developments in Europe and, at a time when low levels of investment into indigenous resources has left the continent with significant security of supply issues, Colle Santo is a nationally significant project in Italy. It is both environmental friendly and strategically and economically valuable, and we are delighted to be able to play a part in producing micro-LNG, providing a much needed transition fuel to the region," said Reabold's co-Chief Executive Officer Stephen Williams.
Shares in Reabold Resources closed down 4.8% at 0.050 pence in London on Tuesday. The stock remains down 17% over the past year.
By Emily Parsons, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
Reabold Resources