Adriatic LNG owned by Qatar and ExxonMobil consults on long-term capacity auction for Italian supplies

Thursday, 04 February 2021
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Adriatic LNG, the offshore import terminal owned by Qatar Petroleum and ExxonMobil, has launched a consultation for the auctioning of a potential 153 billion cubic metres of regasification capacity over the next 25 years.

Interested parties have 45 days to submit observations on products and allocation rules.

Adriatic LNG has been operating since it was deployed in 2009 on a gravity-based structure off the coast of the Veneto region.

The operating company said the subjects of the two-fold consultations are, on the one hand, the products to be allocated and, on the other hand, the amendments to the Regasification Code needed to carry out the open season.

“With the public consultation we take a further step to create one of the most important events for the entire energy market of the Mediterranean area,” said Sebastien Bumbolo, Adriatic LNG Law & Market manager.

“The latest developments in the regulatory framework implemented in Italy have new rules on the allocation of LNG regasification capacity which have already been successful in other European Countries,” added Sebastien Bumbolo.

“Adriatic LNG is able to offer to the market large volumes through long-term allocations,” he stated.

The joint venture operating company is controlled by ExxonMobil Italiana Gas and Qatar Terminal Ltd and a third shareholder is the Italian natural gas grid operator, SNAM, with a 7.3 percent stake.

Adriatic LNG has contributed to satisfying Italy’s gas security by already delivering 69 Bcm of regasified LNG into the national pipeline network.

Cargoes of LNG have been received at the Adriatic facility from eight nations, Angola, Qatar, Egypt, Trinidad and Tobago, Equatorial Guinea, Norway, Nigeria and the US.

The company said all gas and LNG market players, both at national and international levels, have access to the Adriatic LNG proposals and can send their observations by March 22nd, 2021.

Further details are on its Web site at www.adriaticlng.it/en

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