OLT terminal working at full capacity
Published by Will Owen,
OLT Offshore LNG Toscana’s terminal is currently working at 100% of its capacity; 41 slots out of 41 slots available for the Gas Year 2019/2020 have been allocated, for a total of approximately 6.3 million of m3 of capacity.
This important result consolidates the operative outcomes reached in the last Gas Year. Moreover, these bookings confirm the effectiveness of the new allocation capacity mechanism via auctions introduced in 2018, which makes the regasification sector more flexible and in line with the market demand, both for the spot market and the long and middle-term markets.
The cargoes received by OLT come from all over the world, in particular from US, which accounts for 36% of the cargoes received. This confirms OLT’s fundamental position in the Italian national gas system, both in the matter of security of supply and, above all, in the diversification of sources.
Thanks to its technical specifications, the plant is authorised to receive approximately 90% of the worldwide LNG carrier fleet, with a maximum cargo capacity equal to180 000 m3 (New Panamax class) and it can receive different types of gas. Since the start of commercial operations, ‘FSRU Toscana’ received LNG from 10 different countries: Algeria, Egypt, Nigeria, Norway, Peru, Qatar, Trinidad & Tobago, the US, and cargoes coming from other European terminals, such as Spain and the Netherlands, guaranteeing a geographical coverage extending from Europe to America, and to the Middle East.
Looking to the future, in March the company started the authorisation process to offer a new small scale service. The plant’s modification for this purpose will be concluded by 2020, and small scale commercial activities are then due to begin in 2021. This new service will allow the plant to offer 41 loading slots to small LNG carriers, which will deliver LNG into storage facilities under construction in ports.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/10092019/olt-terminal-working-at-full-capacity/
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