Sign in Subscribe
Natural gas

AG&P LNG Enters Australian Market with Acquisition of Venice Energy's LNG Terminal

Strategic Insights

— 1 min read

AG&P LNG, a Singapore-based subsidiary of Nebula Energy, has made a significant entry into the Australian liquefied natural gas (LNG) market with the acquisition of an LNG terminal from Venice Energy, a developer of the world's first floating LNG (FLNG) import terminal in South Australia. The terminal, expected to be commissioned in Q1 2027, will be powered by 100% renewable energy and will provide energy security to South Australia from 2028 onwards. The acquisition was finalized after eight months of negotiations and includes a final investment decision (FID) expected later this year.

Key Takeaways:

  • AG&P LNG has acquired an LNG terminal from Venice Energy in South Australia for the world's first floating LNG (FLNG) import terminal that will run on 100% renewable energy.
  • The terminal, expected to be commissioned in Q1 2027, will provide energy security to South Australia from 2028 onwards and alleviate forecast shortfalls in the gas supply market along the southeast of Australia.
  • The development plan includes an FSRU with a minimum storage of around 145,000 cubic meters, two new wharfs, loading arms, cryogenic piping, pumps, and associated infrastructure.
  • The terminal will convert a 145,000 cbm LNG carrier into a floating storage and regasification unit with a peak send-out capacity of 400 mmscfd.
  • The acquisition includes a joint venture company in India with a local LNG player, joining the latter's LNG regasification terminal in the Asian country.
  • AG&P LNG will provide 100% of project financing and will construct and operate the SA LNG terminal.

Statistics:

  • The terminal is expected to be commissioned in Q1 2027.
  • The development plan includes an FSRU with a minimum storage of around 145,000 cubic meters.
  • The terminal's peak send-out capacity is expected to be 400 mmscfd.
  • The terminal is expected to provide energy security to South Australia from 2028 onwards.
  • The acquisition includes a $300 million investment.
  • The terminal is expected to be one of the first terminals in the world to power its operations with 100% renewable energy.

Sources:

  • Global Data Point (2022)
  • Provided by SyndiGate Media Inc.

Read more