Yesterday the government's authorization for the cession of Isab refinery in Priolo to the Goi Energy base, however applying the golden power, the discipline on special powers in matters of strategic assets, to set a few stakes. This is learned from government sources.
The conditions for Goi Energy
As was already expected, the government has therefore decided to set boundaries around the Priolo affair. The second largest Italian refinery, which belongs to the Russian Lukoil through the Swiss company Litasco, already had a last January signed an agreement with Goi Energy, the energy arm of the private equity fund Argus based in Cyprus and with Israeli traction which manages "assets exceeding 2 billion euros". With yesterday's Dpcm, the details of which are not yet known, the government places conditions on Goi that concern the oil supplies from the trader Trafigura which will supply Goi Energy (followed by the legal advisor Bonelli Erede), employment levels, investments in the plant and commitments on the environmental front relating to discharge limits and therefore to the use of the purifier in the industrial area.
The government would also have decided to protect itself with regard to oil supplies, which must be multi-year (we are talking about 10 years) and traced to be sure that they do not arrive directly or through complicated triangulations from countries subject to restrictive measures, such as Russia itself . Now the financial transaction, which according to market sources has a value of approximately 1,2 billion euro, should materialize with the closing in the next few weeks.
