Adriatic LNG, the company that operates the largest LNG regasification terminal in Italy, located off the Veneto coastline, has announced the positive conclusion of the 2021 Open Season with the allocation by tender of regasification capacity for a total amount of approximately 2 billion m3 over a period of approximately three years.
Launched last September, after a long and comprehensive public consultation process that began in early February 2021, the tender was conducted in a manner similar to those used by the aggressive competitors of LNG terminal operators in Europe with some notable improvements to benefit competition in the gas market (e.g. the organisation of two auction sessions with different products). This was done within the framework of the Ministry of Economic Development's decree of 8 July 2020 (Official Journal No. 181 of 20 July 2020) and of the rules proposed by Adriatic LNG and verified by the Italian Regulatory Authority for Energy, Networks and Environment (ARERA).
Reliability, efficiency, and the fact that it is the only LNG regasification terminal in Italy capable of receiving almost all classes of LNG carriers, with a capacity ranging from 65 000 m3 liquid up to 217 000 m3 liquid LNG, make Adriatic LNG's service particularly attractive to national and international operators, improving competition in the Italian gas market.
Furthermore, having infrastructures and processes such as the Open Season that allow more natural gas to be imported will facilitate Italy's path towards energy transition in a way that is sustainable for the entire national production system. LNG is, in addition, a strategic source for the achievement of climate and environmental objectives and for the diversification of energy supply sources through competitive and flexible sea supplies.
In this regard, it should be noted that the project to increase the regasification capacity of the Adriatic LNG terminal from 8 billion m3/y to 9 billion m3/y has been approved by the Ministry of Ecological Transition and the authorisation is now in the finalisation phase. The increase in regasification capacity at the Adriatic LNG terminal will be achieved through the optimisation of the operating conditions of the infrastructure, without any structural changes to the current configuration.
In a gas market in constant evolution and increasingly ready to offer price opportunities and delivery flexibility thanks to the continuously growing world production of LNG, Adriatic LNG makes available to operators, also during 2022, the regasification capacity available through the most advanced and competitive allocation methods for both short- and long-term allocation. Therefore, Adriatic LNG invites interested operators to consult its website for the short-term regasification service offer and to participate in the Open Season 2022 that will start at the end of May 2022.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/04012022/adriatic-lng-closes-its-first-open-season/