July 19, 2024 [LNG Prime]- Italy’s Adriatic LNG import terminal has achieved a new record in the first half of this year with deliveries to the grid from its facility in the Adriatic Sea.
According to Adriatic LNG, the regasification terminal located off the Veneto coast sent 4.4 billion cubic meters of natural gas into the national pipeline network during January-June, covering over 14.2 percent of national gas consumption and confirming itself as the third entry source for Italian gas imports.
The volumes rose 5.5 percent compared to the same period last year.
Also, Adriatic LNG’s facility received 38 LNG carriers during the first half, mostly from Qatar and the US, covering about 58 percent of Italy’s LNG imports.
Prior to the first half record, the facility also broke its annual record in 2023, delivering 8.5 bcm of natural gas into the national pipeline network, up 7 percent compared to 2022.
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 9.6 bcm per year.
Up to date, the terminal has received more than 1000 LNG carriers, and sent a total of 96 billion cubic meters of gas into the national gas grid.
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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