Italy is planning a second liquified natural gas (LNG) terminal with the financial help of Qatar, the Italian ambassador in Doha revealed today.
Guido De Sanctis said the two countries were working to improve bilateral trade and economic investment.
“Both countries are planning to build their second LNG receiving terminal in Italy to enhance capacity, in addition to discussions on many other investment proposals in the pipeline,” said De Sanctis.
“Italy is one of the largest trading partners of Qatar in Europe. Our exports to Qatar for the first 10 months of 2014 stood at nearly $1bn while Qatar’s exports to Italy [equaled] about $1.6bn.”
“The trade balance was in favour of Qatar essentially due to exports of liquefied natural gas (LNG),” he added.
Italy started importing LNG from Qatar in 2010 in a move to diversify its sources for energy imports.
Its existing port, which was built with financial help from Qatar, is almost running at full capacity now, according to the official.
De Sanctis said a second terminal would benefit the rich LNG exporter acting as an entry point to other European markets.
However, he added the proposed project has to go through many processes and challenges, including political, environmental and issues related to employment.
The existing “Adriatic LNG Terminal” in Italy, located offshore of Porto Levante, in the Northern Adriatic Sea, is the first offshore Gravity Based Structure in the world for unloading, storage and regasification of LNG.
The terminal has been designed, built and operated by Terminale GNL Adriatico (Adriatic LNG), the joint venture between QP’s subsidiary Qatar Terminal Limited with a 45% share, ExxonMobil Italiana Gas, with also 45% share, and Edison with 10%.
De Sanctis spoke to The Peninsula newspaper on the sidelines of a B2B networking event organised by Qatar Chamber (QC) and Italian Trade Agency for the visiting Italian trade mission representing seven leading electrical and electronic companies.
