Annual and multi-year allocation

Annual and multi-year allocation without expression of interest

11/07/2023

OLT Offshore LNG Toscana, pursuant to Resolution 288/2023/R/Gas approved by ARERA on June 27th, 2023, publishes the criteria for the calculation of the reserve price for the allocation of the continuous regasification capacity, in relation to annual and multi-year allocation processes.

Within July 20th, 2023 each Applicant that meets the Service Conditions shall:

  • sign the capacity commitments in accordance with the provisions of Clause 2.1.7 of the Regasification Code;
  • provide adequate financial guarantees in accordance with the provisions of Clause 3.1.1.1 of the Regasification Code.

The awardees may request, within 15 days from the conclusion of the procedure, that in relation to their respective capacities and for the entire duration of the allocation, the transport charges approved annually by the Authority under the tariff regulation of transport services will be applied instead of the cost of transport capacity associated to the allocation fee.

The Procedure for allocation of annual and multi-year regasification capacity for Gas Years starting from 2033/2034 reserved for continuous capacity Users is also published.

The awardees of capacity in Gas Year 2032/2033 have the priority for purchasing capacity for the following Gas Years at the same allocation price of the product and for the same number of slots awarded.

To have access to this priority, the interested awardee shall send the request (Annex A to the Procedure published below) no later than September 30th, 2026.

The effective allocation of regasification capacity associated with the Gas Years starting from 2033/2034 is subject to the actual decision of OLT to extend the useful life of the Terminal that OLT will communicate to the Requesting User by the end of the Gas Year 2028/2029.

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Update related to the multi-year allocation process with expression of interest

07/07/2023

OLT Offshore LNG Toscana informs that the next annual and multi-year auctions without expression of interest are postponed and will be held starting from 24 July 2023. The detailed calendar is available.

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15/06/2023

Pursuant to Clause 2.1.5.3 of the Regasification Code OLT Offshore LNG Toscana publishes the Continuous Capacity available from the first to the twenty-fifth Gas Year following the one in which the allocation is carried on –  e.g. from Gas Year 2023/2024 to Gas Year 2033/2034 – for the purpose of the annual and multi-year allocation process without expression of interest.

Within July 6th, 2023 each Applicant that meets the Service Conditions shall:

  • sign the capacity commitments in accordance with the provisions of Clause 2.1.7 of the Regasification Code;
  • provide adequate financial guarantees in accordance with the provisions of Clause 3.1.1.1 of the Regasification Code.

In order to participate in the capacity allocation, the Applicant must be eligible to operate on the Regasification Auction Platform (PAR) in accordance with the relevant rules.

The auctions will be held starting from July 10th, 2023; The publication of the detailed calendar will follow.

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Annual and multi-year allocation with expression of interest

17/04/2023

OLT Offshore LNG Toscana publish the procedures relating to the extension of the capacity, if any, awarded as a result of the allocation of annual and multi-year capacity with expression of interest. In particular:

  • Procedure for allocation of annual and multi-year regasification capacity for Gas Years starting from 2033/2034 reserved for continuous capacity Users;
  • Procedure for the extension of the allocation related to Product 3.

Procedure for allocation of annual and multi-year regasification capacity for Gas Years starting from 2033/2034 reserved for continuous capacity Users

The awardees of the Product 1 and Product 3 have the priority for purchasing capacity for the following Gas Years at the same allocation price of the product and for the same number of slots awarded.

To have access to this purchase option, the interested awardee shall send the request (Annex A to the Procedure published below) no later than September 30th, 2026.

The effective allocation of regasification capacity associated with the Gas Years starting from 2033/2034 is subject to the actual decision of OLT to extend the useful life of the Terminal that OLT will communicate to the Requesting User by the end of the Gas Year 2028/2029.

Procedure for the extension of the allocation related to Product 3

The subjects that in exit of the annual and multi-year allocation process with expression of interest held on April 20th, 2023, are awarded of Continuous Capacity related to the capacity product concerning Gas Years 2027/2028 2032/2033 (Product 3) can request the extension of the allocation in case of still available capacity.

The request of extension may refer to the Gas Year 2033/2034 or to one or more consecutive Gas Years preceding the Gas Year 2027/2028 and up to the Gas Year 2024/2025.

The request must be sent to commercial@oltoffshore.it by May 5th, 2023, using the “Form for the Request of extension of the allocation in exit of the annual and multi-year allocation process with expression of interest” published here.

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07/04/2023

OLT Offshore LNG Toscana (OLT), pursuant to Resolution 144/2023/R/Gas approved by ARERA on April 4th, 2023, communicates the criteria for the calculation of the reserve price for the allocation of continuous regasification capacity, in relation to annual and multi-year allocation processes with expressions of interest.

The allocation fees for such auctions will include transport capacity costs and the reserve price will be equal to the sum of the transport cost associated with the awarded capacity currently in force, equal to 3.032215 €/liqcm, and:

  • 12.490 €/liqcm for products with a capacity of more than three years (Products 1 and 3);
  • 10.320 €/liqcm for the capacity product for a period of three years (Product 2).

The awardees may request, within 15 days from the conclusion of the procedure, that in relation to their respective capacities and for the entire duration of the allocation, the transport charges approved annually by the Authority under the tariff regulation of transport services will be applied instead of the cost of transport capacity associated to the allocation fee.

OLT also informs that by the end of 2023, intends to offer additional volumes of LNG associated to the delivery slots: the same will be firstly offered to the users already awarded of continuous capacity as per Clause 2.1.5 of the updated Regasification Code approved with Resolution 144/2023/R/Gas.

OLT informs that the procedures for the extension of the allocated capacity will also be published soon.

Below is available the Auction calendar.

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27/03/2023

OLT Offshore LNG Toscana publishes here below the available Continuous Capacity, in a manner which conforms as far as possible to the expressions of interest received.

Within April 17th, 2023 each Applicant that meets the Service Conditions shall:

  • sign the capacity commitments in accordance with the provisions of Clause 2.1.7 of the Regasification Code;
  • provide adequate financial guarantees in accordance with the provisions of Clause 3.1.1.1 of the Regasification Code;

In order to participate in the capacity allocation, the Applicant must be eligible to operate on the Regasification Auction Platform (PAR) in accordance with the relevant rules. Blank test sessions will be scheduled with GME on April 13th 2023, on PAR Platform.

The regasification capacity will be offered in 155,000 m3liq capacity slots. This capacity will be offered as below:

  • first product “long term” from Gas Year 2024/2025 to Gas Year 2033/2034;
  • second product “short term” from Gas Year 2024/2025 to Gas Year 2026/2027;
  • third product from Gas Year 2027/2028 to Gas Year 2032/2033 with the possibility to request, after the award, the extension to previous Gas Years and/or Gas Year 2033/2034 in case of capacity still available. The extension will be at the product allocation price.

With reference to the first and third product, those who have been awarded capacity up to the Gas Year 2033/2034 may submit a purchase option for the following Gas Years at the same allocation price of the product and for the same number of slots awarded. This option is subject to the possible extension of the current operating life of the Terminal.

OLT will provide the modalities for the exercise of this option well in advance of the auction date.

The offers can be presented through the PAR Platform from 19 April 2023.

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15/03/2023

Based on the expressions of interest received and waiting for the definition of the products, OLT informs that the publication of the available capacity products for the annual and multi-annual auctions with expressions of interest is postponed to March 27th, 2023.


15/02/2023

Pursuant to the Regasification Code approved by ARERA on 02/11/2021 with Resolution 474/2021/R/Gas, OLT Offshore LNG Toscana publishes the Continuous Capacity available from Gas Year 2024/2025 to Gas Year 2033/2034 for the purpose of the multiyear allocation process with expression of interest.

The capacity is offered in slots of 155,000 liqcm, up to the maximum authorized capacity of 3.75 billion Sm3.

The expressions of interest must be sent by 1 March 2023 to the address here below:

email – commercial@oltoffshore.it

PEC address – oltcommercial@legalmail.it

The expressions of interest indicating the capacity expressed in m3liq/year for each Gas Year may be sent to OLT using Annex 1 of the Regasification Code available here below. In case of expressions of interest related to several Gas Years, the interested party shall necessarily indicate an equal capacity for each Gas Year to which the expression of interest refers to.

According to the expressions of interest received, OLT will prepare a proposal to the Authority for the capacity offer as part of the subsequent allocation process and, following such verification with the Authority, by 15 March 2023, OLT will publish the Continuing Capacity making it available in a way that is as consistent as possible with any expressions of interest received.

At the same time, by 1 March 2023, Users will be able to express interest in any capacity to be made available after 2033.

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