UPDATE 1-First LNG cargo arrives at Italy's Adriatic terminal

Mon Aug 10, 2009 11:25am EDT
 
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* First cargo brings 102,000 tonnes of LNG from Qatar

* No timing yet for arrival of commercial stage cargos

(Adds details)

MILAN, Aug 10 (Reuters) - The first commissioning cargo bringing 102,000 tonnes of liquefied natural gas (LNG) from Qatar has arrived at Italy's new off-shore LNG import terminal, the Adriatic LNG, which operates the terminal, said on Monday.

The terminal in north Italy has an 8 billion cubic metres (bcm) annual capacity and is due to start commercial operations in the fourth quarter, behind its previous mid-year target.

The commissioning cargo will be used to cool the terminal to prepare it for commercial operations while the arrival of commercial stage cargoes was yet to be determined, a company source said.

The Adriatic LNG terminal is a joint venture between U.S oil major Exxon Mobil's (XOM.N) Italian unit, Qatar Terminal Limited, a unit of Qatar Petroleum, each with a 45 percent stake, and Italy's utility Edison (EDN.MI) with 10 percent.

Under existing agreements, Edison will use 80 percent of the terminal's capacity for 25 years and the remaining 20 percent will be offered to third-party operators. Twelve percent of the non-Edison quota had been already assigned, the company said.

The Adriatic LNG, Italy's second LNG import terminal, will cover about 10 percent of the country's natural gas needs. The first and the only commercially operating terminal so far, is owned by Italy's oil and gas major Eni (ENI.MI) and has a capacity of about 4 bcm. (Reporting by Svetlana Kovalyova; editing by Sue Thomas)

 

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