Italian LNG facility readies for open season
Italian energy company Venice LNG said October 25 it was ready to launch a month-long open season for its coastal facility in Venice.
The company said interested parties can submit an expression of interest from October 26 to November 26 through a reserved area on its website.
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Venice LNG received consent from the Italian government for the construction and operation of a planned facility along the Italian coast. The project enjoys support from the Venice port authority and is co-financed by the European Commission for a total of €18.5mn.
The company envisions storage capacity of around 32,000 m3 once fully operational. Construction, once started, is expected to take about two-and-a-half years.
“The project’s key characteristic is that it is ‘storage as a service’, meaning Venice LNG will be providing storage for third parties and it will not own the LNG stored,” the company added.
Another Italian LNG facility, Ravenna, is expected to be in full service before the end of the month. It has a nameplate storage capacity of 20,000 m3 of LNG and is capable of receiving up to 1mn metric tons/year of the super-cooled gas.
LNG imports met 17.8% of Italian gas demand last year, down from 19% in 2019, but still the second highest level on record.