Adriatic LNG said it has launched new services at the terminal in an attempt to boost the flexibility and increase the liquidity of the Italian market.
The Italian Energy Authority approved the amendment to the Regasification code enabling Adriatic LNG to start offering services like intraday flexibility, which complements the existing day-ahead one, in order to meet the requirements of the new balancing market.
In its statement on Monday, Adriatic LNG said that, with the service the terminal’s users can renominate not only the day before the gas day but also within the same gas day through a series of sessions.
Adriatic LNG is looking to enable its users to capture market opportunities, such as the renomination windows offered by Snam Rete Gas in the new balancing market that entered into force last October 1. This service is also an additional and important resource to increase market liquidity, Adriatic LNG said.
The new rules allow the terminal’s users to opt for a gas redelivery program over a period of two months, opening the LNG market to smallest users, wholesalers or industrial companies.
With the new regasification code, Adriatic LNG has also implemented the daily allocation, to replace the previous monthly allocation system.
Adriatic LNG at present delivers more than 39 billion of cubic meters of gas to the national pipeline network, which is more than half of domestic consumption in 2014.
Cargoes delivered to the gravity-based terminal with the 8 billion cubic meters annual capacity are sourced from Qatar, Egypt, Trinidad and Tobago, Equatorial Guinea and Norway.
LNG World News Staff