Italy’s Adriatic LNG to launch binding open season for regas capacity

Italy’s Adriatic LNG terminal said it will later this month launch the binding open season for multiyear LNG regasification services at its facility in the Adriatic Sea.

The LNG terminal operator owned by ExxonMobil, QatarEnergy, and Snam, previously completed a non-binding expression of interest for annual and long-term regasification capacity from January 2029 to December 2048.

Now Adriatic LNG launched the accreditation phase for Open Season 2023 aimed at operators of the natural gas market interested in acquiring regasification capacity, it said in a statement.

It is offering incremental capacity, subject to conditions, starting from the first quarter of 2026, and multiyear LNG regasification services during the period January 2029-December 2048.

The incremental capacity is proposed up to 0.5 bcm per year, with an annual minimum threshold of 0.4 bcm per year.

Adriatic LNG is inviting firms to apply by July 14 to accredit themselves to participate in the binding phase of the open season, which will begin on July 19 and end on August 2.

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

According to Adriatic LNG, it has already allocated all the available capacities until the end of December 2028.

Launched in 2009, the world’s first offshore gravity-based LNG import terminal sits about 14 kilometers offshore of Porto Levante and has regasification capacity of about 9 bcm per year.

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

ExxonMobil has a 70.7 percent stake in Adriatic LNG, while QatarEnergy holds 22 percent and Snam owns 7.3 percent.

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