Italy’s Adriatic LNG launches open season for regas capacity

Italy’s Adriatic LNG terminal has launched an open season for multiyear LNG regasification services at its facility in the Adriatic Sea.

The LNG terminal operator is offering regasification capacity from January 2029 to December 2049.

The capacity offered varies and in the period from 2029 to 2034 it ranges between 0.22 bcm per year up to 1.17 bcm per year. After that, most of the 9 bcm per capacity is available.

Adriatic LNG said the 2024 open season includes two phases.

The non-binding phase for the accreditation of interested operators started on June 20 and ends on July 12, while the binding phase will start on July 17 and end on July 31.

In 2022, Adriatic LNG offered about 147 bcm of regasification capacity for the period from October 2022 to December 2047.

Last year, Adriatic LNG also offered annual and long-term regasification capacity from January 2029 to December 2048.

Launched in 2009, the world’s first offshore gravity-based LNG import terminal sits about 14 kilometers offshore of Porto Levante.

In March 2023, Adriatic LNG received its 1000th cargo of LNG since 2009.

Italian energy firm Snam recently decided to increase its stake in the Adriatic LNG terminal after Rotterdam-based storage terminal owner VTTI and German asset manager IKAV joined forces to take a majority stake in the facility.

Following completion of the transaction, Snam will own 30 percent and VTTI will own 70 percent in Adriatic LNG.

Previously, US energy firm ExxonMobil had a 70.7 percent stake in Adriatic LNG, while state-owned LNG giant QatarEnergy held 22 percent and Snam owned 7.3 percent.

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