Australian LNG import terminal developer Venice Energy aims to make a final investment decision (FID) on the 2mn t/yr Outer Harbor LNG terminal in Adelaide, South Australia (SA), by late 2025, it said on 12 August.
This comes after Singaporean firm Atlantic Gulf & Pacific (AG&P) bought the Australian developer on 11 August.
AG&P will fund the construction and operation of the LNG terminal. AG&P and Venice have been working together over the past eight months on securing unnamed offtake customers. This was through a combination of long-term and short to mid-term gas sales agreements, Venice said.
The sale of Venice was agreed in October 2024. US-based investment firm Nebula Energy, a majority stakeholder of AG&P, funded the acquisition.
The terminal has been approved by the SA government and site enabling works were completed earlier this year, Venice said. The firm was previously aiming for an FID in August last year, before the AG&P acquisition took place.
"The regasification terminal will provide energy security to South Australia from 2028 onwards and secondly help alleviate forecast shortfalls in the gas supply market along the southeast of Australia," Venice's managing director Kym Winter-Dewhirst said on 12 August.
Australia's other proposed LNG import terminals are at Port Kembla on the east coast and at Geelong in the southern state of Victoria.
