South Australia approves Venice's LNG import terminal project
The South Australian government has approved the construction of Venice Energy’s LNG import terminal to be built in the Outer Harbor of Port Adelaide, the company said on December 23.
The terminal will become the only LNG import facility in South Australia and the first in the world to be powered by renewable energy, it added.
"Through this terminal, we will open the state to the international gas market and diversify local gas supplies, especially during peak periods,” Venice’s managing director, Kym Winter-Dewhirst said.
Construction is expected to begin mid-next year and will take 12-14 months to complete and commission following financial close. The first shipment of LNG into the terminal and connection to the South Australian gas network is anticipated around late 2023 to early 2024.
In July, GasLog signed an initial agreement to negotiate a charter party for the supply of floating storage and regasification unit to Venice as part of the import terminal project. The proposed facility is expected to bring around 2.12bn m3/yr of LNG into South Australia.
The granting of development approvals opens the way for the company to undertake a feasibility study into making the 680 km Seagas pipeline from Victoria to South Australia bidirectional enabling the terminal to supply gas to two states, Venice said.