Adriatic LNG announces 2022 Open Season: one of the most important LNG import events in Europe
Milan, March 23rd, 2022 – Following the success of the 2021 Open Season, Adriatic LNG, the company operating the largest liquefied natural gas (LNG) regasification terminal in Italy and among the first three in the Mediterranean area, will launch the 2022 Open Season. For this purpose, the Company has published the main information relating to the 2022 Open Season that will be launched at the end of May 2022 to allocate the LNG regasification capacity available from the end of 2022 to 2047.
The leaflet provides information on the LNG regasification capacity that will be offered through the Open Season 2022 and the main provisions regulating access to services and capacity allocation, as well as details on the bidding phases and the evaluation and allocation methodology.
Given the nominal LNG regasification capacity of 9 billion cm per year and the capacity already booked, Adriatic LNG will make available to the market an LNG regasification capacity of approximately 147 billion cm for the next 25 years. This is one of the most important auctions in the world for operators interested in acquiring long-term LNG regasification capacity.
Also in 2022, Adriatic LNG's Open Season will be developed in two phases: an initial non-binding pre-qualification phase expected to take place in June 2022 and a second binding phase for the allocation of LNG regasification capacity in July 2022.
At the same time, Adriatic LNG intends to test the interest of the market operators on the possible development of LNG regasification capacity above 9 billion cubic meters/year - i.e. for a further increase of 0.5 billion cmrs per year of natural gas - and/or the development of a Wobbe index correction service in order to receive LNG from even more supply sources.
With the first Open Season closed in December 2021, Adriatic LNG allocated capacity for an overall amount of approximately 2 bcm of natural gas over a period of about three years. Today, with the 2022 Open Season, Adriatic LNG continues its commitment to offer the opportunity to import LNG from multiple sources and new suppliers ensuring the natural gas supplies that Italy and Europe needs.
In markets heavily dependent on natural gas imports, Adriatic LNG's 2022 Open Season is, therefore, a tangible way for Italy and Europe to increase and diversify LNG imports, improving the competitiveness of the domestic natural gas market and ensuring greater security of energy supply.