Venice Energy has signed a project agreement with Flinders Ports that sets out the framework to support the development of a proposed LNG import facility in Port Adelaide.
If approved, the $200 million project will include the construction and operation of a new two-berth wharf facility to accommodate an LNG carrier, a moored floating storage and regasification unit (FSRU) and supporting infrastructure to import, store and re-gasify LNG and deliver gas to customers.
‘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,’ said Managing Director of Venice Energy, Kym Winter-Dewhirst.
‘The facility will also be able to support existing gas-powered infrastructure,’ he added.
Last week Venice Energy submitted its development application to the State Government for consideration.
Subject to various approvals and other milestones set out in the project agreement with Flinders Ports, the facility is expected to be operational by late 2022.