Highlights:
- Venice Energy has agreed to sell its South Australian LNG terminal project to AG&P LNG, a subsidiary of Nebula Energy.
- The companies signed a full-formed investment agreement on Monday.
- The agreement follows eight months of negotiations and the signing of a binding term sheet in October last year.
- AG&P LNG will provide 100% of project financing and will construct and operate the terminal.
- A Final Investment Decision (FID) is expected later this year.
- The terminal will provide energy security to South Australia from 2028 onwards and help alleviate forecast shortfalls in the gas supply market across the southeast of Australia.