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$200m terminal to be supported by Venice Energy through listing plan

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Venice Energy, the group planning a $200 million project to import LNG into South Australia, has signed up one customer and is close to signing others, said chief executive Kym Winter-Dewhirst.

He said he is confident of a go-ahead for the project by April or May 2021 as long as approvals are received on time.

A public listing of Venice Energy next year is part of the plan to help fund the project, which could start importing gas into South Australia by October 2022, depending on approvals, Winter-Dewhirst said.

He added of the listing plan, which is tentatively slated for mid-2021: “We’ve been working on this structure for quite some time, we are a significant way down the road on this.”

“We will soon announce a team of key brokers that will help take us there; the quality of those brokers will be further evidence of the likelihood of success of this.”

The proposed terminal is one of five separate LNG import projects around the south-east coast but the only one in South Australia. After a change in strategy at Venice in early 2019, it will use a tolling infrastructure model, allowing customers that need gas to arrange their own LNG import supplies from the international market.

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9th November 2020