Adriatic LNG, the company that operates the largest LNG regasification terminal and the only one able to receive LNG carriers up to 217 000 m3 in Italy, located off the Veneto coastline, started the 2021 Open Season on 24 September. By 23 November, interested operators can apply to take part in auctions, scheduled from 26 November to end December, by submitting their Declaration of Interest and further documentation indicated on Adriatic LNG website.
As a result of suggestions brought to attention by market operators, especially during the public consultation held between February and March 2021, Adriatic LNG offers 16 products, consisting of aggregated LNG discharge slots that can be combined together. Products available for the first auction session, closing on 2 December 2021, are published on the Open Season Catalogue of Products for Session 1. Volumes offered vary between 1 billion m3/y and to 1.6 billion m3/y of regasified natural gas, with duration varying between 10 - 24 years.
In order to increase the offer flexibility, Adriatic LNG gives the opportunity to operators to submit, for certain types of products and within specific limits, personalised bids by requesting the reduction of duration and/or annual volumes.
Adriatic LNG may organise an additional second session by 16 December 2021 in case the capacity would not be entirely allocated during the first one. In this second session, available capacity would not be offered as products but as single discharge slots.
Total regasification capacity offered through the Open Season accounts for 153 billion m3, considering existing capacity (1.6 billion m3 of natural gas by the end of 2034, and then 8 billion m3/y starting from 2035), already technically available additional capacity (1 billion m3/y) – as provided for in the project for additional terminal capacity submitted by the company to the Ministry of Ecological Transition and which was excluded from the Environmental Impact Assessment on 18 August – and new capacity to be built (0.5 billion m3/y).
In a period of tensions on energy prices, also due to the limited attractiveness of the European LNG market, it becomes even more strategic to make available to the market the most advanced capacity allocation procedures by a market-leading infrastructure that can ensure further gas supplies to Italy and Europe. This also to support the energy transition at the lowest overall cost for the country.
By launching its Open Season, Adriatic LNG completes its commercial portfolio, by offering market new long-term products, along with already existing short-term ones and ancillary services, such as the flexibility service.
Operating since Autumn 2009, the Adriatic LNG regasification terminal is a private operator which assures to Italy the import of approximately 10% of national gas consumptions (and does not benefit from State incentive). A strategic infrastructure for the country for its contribution to the diversification of energy supply, Adriatic LNG at present has contributed to satisfy national natural gas consumptions by delivering to the national pipeline network more than 73 billion m3 of gas coming from a great variety of carriers up to 217 000 m3, from eight countries (Qatar, Egypt, Trinidad and Tobago, Equatorial Guinea, Norway, Nigeria, US, and Angola). Adriatic LNG is co-controlled by ExxonMobil Italiana Gas and Qatar Terminal Limited (a subsidiary of Qatar Petroleum) and participated by SNAM (7.3%).
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/28092021/adriatic-lng-starts-2021-open-season/