Venice Energy moves forward with South Australian LNG import project

Venice Energy, the developer of a $155 million LNG import facility in South Australia, has signed a project agreement with Flinders Ports.

The deal sets out the framework to support the development of the proposed LNG import project in Port Adelaide, the Australian firm said in a statement.

Additionally, the duo agreed a concept design that will guide the development of two new operating berths but also associated onshore facilities at Outer Harbor, subject to development approval.

Moreover, Venice Energy claims the LNG import facility would enhance the supply of gas to South Australian domestic and industrial users.

Managing Director of Venice Energy, Kym Winter-Dewhirst says the facility will bring
“significant benefits” to the state.

“Importing LNG into South Australia will improve and diversify local gas supplies, especially during peak periods and help to underpin South Australia’s globally leading renewable sector by providing firm dispatchable energy at times when wind and solar are not operating,” he said.

He added that the project would also enable downward pressure on gas prices for all users.

“Our proposed facility is expected to bring around 80 Petajoules per annum of LNG into
South Australia and with supplies forecast to tighten in just a few years’ time, importing LNG makes sense.

“The facility will also be able to support existing gas-powered infrastructure,” he said.

Launch expected by late 2022

Venice Energy recently submitted its development application to the state government for consideration.

If approved, the project would include a two-berth wharf facility to accommodate an LNG carrier, a moored FSRU and supporting infrastructure.

Furthermore, the proposed facility would be located adjacent to the Pelican Point gas fired power station next to the already productive Flinders Ports quay line.

Subject to various approvals and other milestones set out in the project agreement, Venice Energy expects to launch the facilit by late 2022.

Most Popular

Seapeak books $19.3 million charge as it lays off seafarers on steam LNG carriers

Stonepeak’s Seapeak booked $19.3 million of restructuring charges in the second quarter of this year, primarily due to laying off its Spanish seafarers working on steam LNG carriers.

Golar moving forward with new FLNG order

Floating LNG player Golar LNG is moving forward with its plans to order its fourth FLNG conversion. In order to secure "attractive" delivery, Golar plans to enter into slot reservations for long-lead equipment within the third quarter of this year.

Hanwha’s units, Kospo to jointly buy US LNG

South Korea's Hanwha Aerospace and Hanwha Energy, units of Hanwha, are teaming up with compatriot Korea Southern Power (Kospo) to jointly buy US liquefied natural gas (LNG) supplies.

More News Like This

AG&P LNG inks offtake MoU for Australian LNG import project

Nebula Energy’s AG&P LNG said it had signed a memorandum of understanding with an Australian integrated energy provider under which the latter may become a significant offtaker of the proposed Outer Harbor LNG terminal in South Australia.

Nebula’s AG&P LNG to take FID on Venice Energy’s LNG project in 2025

Nebula Energy’s AG&P LNG is expected to make a final investment decision on Venice Energy's FSRU-based LNG import project in the Port of Adelaide, South Australia, later this year after it agreed to buy the project.

Nebula’s AG&P LNG to buy Australia’s Venice Energy

According to a joint statement, AG&P LNG will buy 100 percent of Venice Energy, with Florida-headquartered Nebula Energy, the...

Venice Energy finds partner for South Australian LNG import project

Venice Energy said it had identified the leading contender to underwrite its FSRU-based LNG import project in the Port...