*Adriatic LNG's establishment followed a 2001 LNG sales and purchase agreement between RasGas and Edison for the supply of 4.6mn tonnes per year for 25 years
Qatar Petroleum and its partners celebrated the 10th anniversary of Adriatic LNG terminal at a special event in Venice, Italy on Monday.
The event was held under the patronage of HE the Minister of State for Energy Affairs, Saad bin Sherida al-Kaabi, also the president and CEO of QP.
The event was attended by Prefect di Rovigo Maddalena De Luca, Energy Authority Board member Stefano Saglia, Simone Venturini, member, Municipality of Venice, Economic Development and Infrastructure and senior executives from QP and Qatargas.
The Adriatic LNG regasification terminal is located in the northern Adriatic, 14 kilometres off the Veneto coastline. It is operated by Adriatic LNG, which is a partnership between subsidiaries of ExxonMobil, QP, and Snam.
Adriatic LNG has been in operation since 2009, from which date it started meeting more than 10% of Italy’s natural gas requirements. Its establishment followed a 2001 LNG sales and purchase agreement between RasGas and Edison for the supply of 4.6mn tonnes per year for 25 years.
Speaking at the event, al-Kaabi expressed pride in the bilateral relations between Qatar and Italy, which cover a wide spectrum of fields and activities.
He said, “The Adriatic LNG Terminal is a symbol of how countries can work together to ensure that people’s daily energy needs are met, that businesses can do their daily work unhindered, and that the wheel of the industry never stops.”
“The Adriatic LNG Terminal has become the main entry point of LNG into Italy, playing a strategic role in the diversification of Italian energy supplies. We are proud that the past ten years of Adriatic LNG have carried great benefits to the Republic of Italy and its people, as it became an important part of Europe’s energy system. For us in Qatar, we are committed to work with all our clients around the world to ensure the security of their energy supplies and the sustainability of their economic growth.”
Al-Kaabi concluded his remarks by thanking the Italian government, the regional government, and the local companies and communities, as well as QP’s valued partners, ExxonMobil, Edison, Snam, and Qatargas for being part of this success.
“We celebrate this symbolic bridge that ties our countries and our peoples, which could not have been built without your dedication and commitment,” al-Kaabi added.
The Adriatic LNG Terminal is considered a strategic Italian infrastructure asset, which contributes to the diversification of the country’s energy supplies.
The terminal has operated over the past decade with a regasification capacity of 8bn cubic metres per year, corresponding to half of Italy’s LNG import capacity, and meeting about 10% of Italy’s total natural gas demand.