UK’s Grain LNG has launched “open season” for flexible and competitively-priced capacity from 2025.
Grain LNG said that it was seeking industry feedback on a new service proposal during an initial consultation phase between now Nov 1, 2019, and January 10, 2020.
The market is invited to place legally binding bids for the capacity by March 10, 2020, and Grain LNG is expecting to allocate capacity by the end of March 2020.
It is worth reminding that Grain LNG said in May that up to 8.3 mtpa of capacity and over 100 berthing slots could be made available at the terminal in 2025.
The open season offers market participants a brand-new capacity opportunity, following the expiry of the long-term contracts that underpinned the original construction and development of the Grain LNG terminal.
The capacity on offer will be a mix of existing and new-build infrastructure and could increase Grain LNG’s total site storage to 1,200,300 cbm and total regasification capacity to around 780 GWh/d which is equivalent to more than 30 percent of UK gas demand.
Nicola Duffin , Grain LNG’s head of commercial, said: “ This is an exciting time for Grain LNG, as we prepare to offer capacity that will allow customers to secure long-term access to the National Balancing Point. Grain LNG will continue to provide a reliable service to our current capacity holders and play a key role in ensuring gas security of supply for the UK. ”
Following final bids in March, Grain LNG expects to award capacity in the first quarter of 2020.