Adriatic LNG: the Regulatory Authority for Electricity and Gas (AEEGSI) approves the new Regasification Code

Adriatic LNG: the Regulatory Authority for Electricity and Gas
(AEEGSI) approves the new Regasification Code

• A more efficient LNG market thanks to a more flexible and enhanced use of the regasification terminal
• Adriatic LNG aims at offering services in line with market evolution

Milan, 27 September 2016 – On September 22, 2016, AEEGSI, with deliberation No. 520/2016/R/gas approved the modification proposal No. 9 of the Regasification Code proposed by Adriatic LNG which aims at making gas and LNG markets more efficient thanks to the introduction of new services that widen the terminal’s commercial offer and favor a more flexible and enhanced use of the most important regasification plant operating in Italy.

Adriatic LNG’s new Regasification Code, with the aim of responding to new market needs, introduces:

• a more flexible allocation procedure of capacity responding to current market requirements (“Procedura Infrannuale di Sottoscrizione della Capacità”), by determining a term after which the infra-annual capacity (spot and continuous) is allocated according to the rule “first come first served”;
• a secondary market for regulated regasification capacity that gives users the opportunity to transfer their regulated capacity directly to new users;
• an increased time flexibility in terms of capacity release, in line with new market requirements;
• a method of definitive allocation on daily basis for the gas volumes that the terminal delivers into the grid. The daily allocation allows users to know the volume allocated the day before, in line with the requirements of the new balancing market;
• the Peak Shaving service as a permanent ancillary service offered by the terminal. The service, up to now, as provided by law, has been managed through ad-hoc procedures and agreements published on the Company’s website. The service has now been included in the new Code in order to improve conditions of supply;
• a new intraday flexibility service, in addition to the day – ahead  flexibility service that is already offered to respond to the requirements of the new balancing market starting on October 1, 2016;
• a new method to define users’ redelivery programs which introduces an increased flexibility in the process of nomination and renominations, giving users a greater chance to express their preferences as regards the scheduling of redelivery volumes;
• the chance for users to choose a redelivery profile over a period of two months instead of one month.

The new Code is available on the website www.adriaticlng.it, commercial page – regasification activities.

Operating since autumn 2009, the Adriatic LNG regasification terminal assures to Italy more than 10% of national gas consumptions. A strategic infrastructure for the Country for its contribution to the diversification of energy supply, Adriatic LNG at present has contributed to satisfy national natural gas consumptions by delivering to the national pipeline network more than 39 billion of cubic meters of gas (corresponding to more than half of domestic consumption in 2014) coming by ship from 5 Countries (Qatar, Egypt, Trinidad and Tobago, Equatorial Guinea and Norway).
Adriatic LNG is co-controlled by EMIGAS (a subsidiary of ExxonMobil) and Qatar Terminal Limited (a subsidiary of Qatar Petroleum). Adriatic LNG’s employs 125 people. Employees coming from Veneto are 43 while 60 are Veneto’s companies that have been involved as contractors since the beginning of the project.