Open Season

 

 

 

 

07/09/2023

The  2023 closed with the allocation of all the Incremental Capacity offered, equal to 0.5 BCM/year from January 2026 to December 2045, for a total of 10 BCM. 

 

Following the achievement of the final decision relating to proceeding with the construction of the Incremental Capacity, Adriatic LNG informs that the start of the service is expected at the latest by the first quarter of the year 2026 based on the technical considerations currently available and subject to evaluation of a possible launch of the service as early as the last quarter of 2025.

 

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03/08/2023

Adriatic LNG announces the closure of the Binding Phase of the   2023

 

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30/06/2023

Notice of opening of the Annual Subscription Process (Non-Binding and Binding Phase),  2023.

 

Adriatic LNG opens the  2023 to offer Incremental Capacity subject to conditions, starting from 1° quarter 2026^[1] and multiyear LNG regasification services during the period January 2029 – December 2048, and makes here below available the following documentation: i) Regasification Code (ii) Implementing Auction Rules, (iii) Catalogue of 2023 Available Capacity (“Catalogue”), (iv) Declaration of Interest form, (v) Access Request; (vi) Price form to the Access Reques, (vii) Bid bond and (viii) Guarantee forms, (xi) Non-Foundation capacity Agreement verified by Arera with resolution n° 286/2023/R/Gas on 27 June, (x) Building activities for realization of Incremental Capacity subject to condition, (xi) Resolution n° 286/2023/R/Gas and (xii) Resolution n° 288/2023/R/Gas (see hyperlinks, bottom of this notice).

 

2023 takes place in two phases:

(i) Non-Binding Phase for the accreditation of Interested Operators starting on June 30th, 2023 and ending on July 14th, 2023 at 14.00 C.E.T., and

(ii) Binding Phase for the submission of Access Requests starting on July 19th, 2023 and ending on August 2nd, 2023 at 14.00 C.E.T. Indicative non-binding opening bids^[2] will be provided to qualified Applicants during the binding phase.

For details on timing please refer to Implementing Auction Rules^[3] [see hyperlinks, bottom of this notice]

 

Detailed information on offered LNG regasification Available Capacity, on Incremental Capacity subject to conditions and Deviation in Excess mechanism that may apply from time to time to LNG regasification capacity subscribed are available in the Catalogue.

Interested Operators are invited to execute the Declaration of Interest form and submit the requested documentation for their accreditation.

As always, Adriatic LNG remains available to illustrate its service proposal, please contact: adriaticlng_openseason@adriaticlng.it
 

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Non-binding phase in a nutshell.

Please find below a summary of the published rules for the Non-Binding Phase^[4].

1. Declaration of Interest – deadline and ancillary documents

Any operator interested in being accredited to partake  2023 is required to submit its Declaration of Interest, which includes confidentiality obligations, no later than two o'clock (2:00 p.m.) CET on July 14th, 2023.

For its accreditation, the operator must also provide appropriate supporting documentation to confirm its signee is vested with adequate powers to represent and sign any declaration, Access request, Price form, and any other form annex or document  2023 related on its behalf ^[5].

 

2. Bid Bond

By the same deadline above, Interested Operators are required to submit a bank guarantee or, alternatively, a non-interest bearing security deposit in the amount of Euro 250,000.00 (two hundred and fifty thousand) (together, the “Bid Bond”) to guarantee the signing of the relative Capacity Contract (if any) and the delivery of the guarantees referred to in Article 10 of Chapter III of the Regasification Code.

The Bid Bond shall remain in force until at least eight (8) Business Days after the closing of  2023 (ie. August 14th, 2023).

 

3. How to sign and submit the documentation – electronic process^[6]

Declaration of Interest, ancillary documents and a copy of the guarantee must be sent by Interested Operators to the Operating Company at the following certified email address:

terminale.gnl.adriatico_mercato@pec.it

and, where a signature is needed, digitally signed using a Qualified Electronic Signature (QES) certificate in PADES format or, alternatively, another similar and suitable means to meet the same requirements that will be evaluated by the Operating Company at its sole discretion.

The guarantee must be also sent in the original version.

 

4. Accreditation

Following submission of documentation above, Bid Bond included, the Operating Company will assess and verify them in accordance with the criteria set out in the Regasification Code and Implementing Auction Rules.

If such verification is satisfactory, the Operating Company will notify the relative Interested Operator within two (2) Business Days that it may participate in the Binding Phase of the  2023.

Operating Company may provide accredited Interested Operators with further information relating to the Available Capacity and/or  2023.

 

^[1] Indication on the basis of the technical considerations available to date and subject to the assessment of a possible start of the service during the last quarter of 2025

^[2] Opening bids are indicative only price references (i.e. not binding) below the reserve price delivered to the public notary.

^[3] In case of discrepancy between this notice of opening and the Implementing auction rules mentioned herein, the latter shall prevail.

^[4] Non-Binding and Binding Phase rules are provided for in the Implementing auction rules [hyperlink below]

^[5] E.g: notarial power of attorney, extract from the chamber of commerce, resolution of the board of directors in Italian or English language.

^[6] For the sake of clarity, submission of Access Request in Binding Phase will be hard-copy to the notary.
 

***
 

Documentation:

i. Regasification Code

ii. Implementing Auction Rules

iii. Catalogue of 2023 Offered Capacity

iv. Declaration of Interest Form

v. Access Request form

vi. Annex price form to the Access Request

vii. Annex Bid Bond

viii. Annex Guarantee Model in replacement of the Bid Bond and to cover the Capacity Agreement

ix. Non-Foundation capacity Agreement verified by Arera with resolution n° 286/2023/R/Gas on 27 June

x. Building activities for realization of Incremental Capacity subject to condition

xi. Resolution n° 286/2023/R/Gas

xii. Resolution n° 288/2023/R/Gas

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24/05/2023

Adriatic LNG invites all interested parties to contribute to the public consultation related to an amendment to the Non-Foundation Capacity Agreement (attached to Regasification Code, Annex (a) Part IV) limited to the condition subsequent clause applicable to the Incremental Capacity.

The Incremental Capacity, subject to conditions, will be then offered in the Open Season 2023.

 

The text is available at this link

 

To submit any comments write at the following address: alng_mercato@adriaticlng.it

 

 

 

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01/03/2023

Open Season - Long term capacity allocation from 2029 on, market test.

Adriatic LNG is testing the market interest for capacity available from January 2029 on. Tha available capacity has been published at https://www.adriaticlng.it/en/market-area/services/regasification/open-subscription subject to maintenance plan to be defined by Adriatic LNG.

If you are interested, please fill in the form (Market Test) and send it to the mailbox: adriaticlng_openseason@adriaticlng.it by May 12^th 2023 .

 

Many thanks.

 

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