The Italian Adriatic LNG import terminal has launched the accreditation phase for a 2024 open season to offer long-term regasification capacity to natural gas market operators.
Adriatic LNG is Italy’s largest terminal and is a gravity-based structure that was recently acquired by Dutch energy storage group VTTI and a German fund from previous owners ExxonMobil Corp. and QatarEnergy.
ExxonMobil and the Qataris have agreed to sell their 70 percent stake in the terminal to VTTI and Germany-based asset manager IKAV, while the balance of 30 percent is owned by Italian gas grid and terminals operator SNAM.
With Open Season 2024 Adriatic LNG said it was offering regasification capacity available in the period between January 2029 and December 2049.
The Adriatic terminal is located 15 kilometres (9.3 miles) off the Veneto coastline of Italy and has been on line since 2009.
It includes two LNG storage tanks, each with a capacity of 125,000 cubic metres.
At full capacity Adriatic LNG can supply 15 percent of Italian natural gas needs. The operating company called Terminale GNL Adriatico said operators could apply by July 12, 2024, to accredit themselves to participate in the binding phase of the open season that will start on July 17 and end on July 31.
To become accredited, operators must follow the instructions provided on the web site covering the subscription procedure and the auction application rules.
“With a maximum regasification capacity of 9.6 billion cubic metres per year, a utilization rate over 88 percent in 2023, the Adriatic LNG terminal plays a strategic role in the Italian and European energy systems,” said the company.
Adriatic LNG noted that it was the only terminal in Italy able to receive LNG carriers up to 217,000 cubic metres capacity.
“The reliability and safety of operational activities, combined with the ability to provide innovative and flexible services to meet market demands, have enabled Adriatic LNG to allocate all available regasification capacity in previous auction sessions until December 2028,” the company explained.
