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2021 Open Season Adriatic LNG: start of one of the most important auctions for operators interested in the acquisition of long-term LNG regasification capacity in the Mediterranean

Milan, September 28th, 2021 - Adriatic LNG, the company that operates the largest LNG regasification terminal and the only one able to receive LNG carriers up to 217,000 cm in Italy, located off the Veneto coastline, started the 2021 Open Season on September 24th. By November 23rd, interested operators can apply to take part in auctions, scheduled from November 26th to end December, by submitting their Declaration of Interest and further documentation indicated on Adriatic LNG website (www.adriaticlng.it).

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 in aggregated LNG discharge slots, that can be combined together. Products available for the first auction session, closing on December 2, 2021, are published on the Open Season Catalogue of Products for Session 1. Volumes offered vary between 1 bcm per year and to 1.6 bcm per year of regassified natural gas, with duration varying between 10 and 24 years 9 months.

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, personalized bids by requesting the reduction of duration and/or annual volumes.

Adriatic LNG may organize an additional second session by December 16, 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 cubic meters, considering existing capacity (1.6 bln cm of natural gas by the end of 2034, and then 8 bln cm per year starting from 2035), already technically available additional capacity (1 bln cm/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 August 18 – and new capacity to be built (0.5 bln cm/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.