ROME, May 18 (Reuters) - Italy's Snam and Golar LNG said on Wednesday they signed a contract under which the liquefied natural gas (LNG) shipping company will supply a floating storage and regasification unit (FSRU) to be installed in a southern port of Sardinia.
The 269-million euro ($283.01 million) contract is part of a project to supply the Mediterranean island with energy, the two companies said in a joint statement.
It includes a vessel- which is named Golar Artic - and the capital expenditure for Golar to convert it into a FSRU with a storage capacity of up to 140,000 cubic metres, which will then be installed in the port of Portovesme.
The conversion is expected to take about two years and at the end of it the FSRU will be sold to Snam, the statement said.
($1 = 0.9505 euros) (Reporting by Giulia Segreti, editing by Federico Maccioni)