Italy and Qatar could jointly build up to ten new gas terminals

May 10, 2005 02:00 AM

Italy and Qatar could jointly build up to 10 new terminals to supply natural gas from the Gulf nation to the European country, the Italian minister of productive activities announced.
Italy’s minister for productive activities Claudio Scaiola and his Qatari counterpart, Sheikh Mohammad Bin Ahmad Al Thani, minister of economy and commerce, met to enhance co-operation between the two countries in the energy sector.

The meeting follows the signing of an agreement for the construction of the first joint gas terminal off the Venice coast.
"The two countries are keen on pursuing co-operation in the energy sector... There is a plan to build an additional 10 gas terminals in our country... The offshore natural gas terminal of Porto Levante has opened the way for further co-operation between the two countries on these projects," Scaiola told.

He said Qatar’s natural gas offers a valid energy alternative [to hydrocarbons] at reasonable cost.
"Italy and Europe need a clean source of energy at affordable cost... we have to speed up the plans for the construction of more terminals."
Qatar Petroleum (QP), ExxonMobil and Edison, Italy’s second-biggest power company, announced they would jointly build a LNG terminal with a re-gasification capacity of 8 bn cmpy. The terminal’s production would meet about 10 % of national demand. The gas for the project will be sourced from Qatar’s North Field, which has recoverable reserves of more than 900 tcf of natural gas, said QP.

The Isola di Porto Levante LNG terminal will be located in the north Adriatic Sea off the Venice coast. The $ 900 mm contract for the terminal’s construction was awarded to Norway’s Aker Kvaerner. The offshore terminal will be operational by the end of 2007.
RasGas vice-chairman and economic adviser to the Emiri Diwan, Ebrahim B. Ebrahim, said that by investing in the Adriatic terminal Qatar had created an "entry point to Northern Europe". The terminal’s gas supplies would also hot up competition between Edison and Enel, Italy’s major energy and gas supplier, helping curb prices.

As a result of the agreement, QP and ExxonMobil have acquired 90 % of Edison LNG and the latter will have access to about 80 % of the terminal capacity for 25 years to process LNG imported under the RasGas (II)-Edison Sales and Purchase Agreement. The remaining 20 % will be available to users through regular transparent procedures.
QP and ExxonMobil have also announced a number of upstream investments associated with the project, including a wellhead platform with an expected seven wells, pipelines, a 4.7 mm tpy LNG train at Ras Laffan City and five conventional LNG tankers to supply the terminal. The terminal will be equipped with a berthing/ mooring system for product unloading, designed to accommodate ships delivering up to 152,000 cm of LNG.

Source: Gulf News
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