Outer Harbor project site in February 2024
Under the agreement, AG&P LNG will fully finance, construct, and operate the South Australian LNG terminal in Outer Harbor, Port Adelaide. A final investment decision is anticipated later in 2025, with site preparation already completed earlier this year. Venice Energy and AG&P LNG have collaborated to secure both long-term and short-to-mid-term gas sales agreements with off-take customers to support the project’s development.
The terminal will feature a floating storage and regasification unit (FSRU) with a minimum storage capacity of 145,000 cubic meters, alongside two new wharfs, loading arms, cryogenic piping, pumps, and related infrastructure. The $300 million project involves converting a 145,000 cbm LNG carrier into an FSRU with a peak send-out capacity of 400 million standard cubic feet per day. Scheduled for commissioning in the first quarter of 2027, the 2 million tonnes per annum terminal will operate using 100% renewable energy, marking a significant milestone in sustainable energy infrastructure.
Kym Winter-Dewhirst, chair of Venice Energy, emphasized the project’s importance, stating: “Firstly, 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.” The terminal is expected to enhance energy reliability and address regional gas supply needs.
This acquisition follows AG&P LNG’s recent joint venture in India with a local LNG company to develop an LNG regasification terminal, reflecting its growing global presence in the LNG sector. The South Australian project underscores AG&P LNG’s commitment to innovative and sustainable energy solutions, positioning the company to meet rising demand for cleaner energy infrastructure in Australia and beyond.
