+61 8 8312 7056 info@veniceenergy.com

Media

For media enquiries please contact Sylvia Rapo – Corporate Affairs and Stakeholder Engagement.

Latest news

Marubeni backs SA LNG instead of Andrew Forrest project

1st July 2022.
Licensed by Copyright Agency and must not be copied without permission.

    Venice Energy and Marubeni join forces on South Australian LNG import project

    1st July 2022.
    Licensed by Copyright Agency and must not be copied without permission.

      The Perfect Synergy – exploring the promising future of LNG in Australia

      Kym Winter-Dewhirst, LNG Industry, May 2022.
      Shared by permission.

        Support grows for South Australian LNG import terminal

        Venice Energy Media Release, 2 March 2022

          Venice Energy LNG import terminal at Port Adelaide gets planning approval

          The Advertiser
          Licensed by Copyright Agency and must not be copied without permission.

            Aspiring LNG importer heads for IPO

            Financial Review, 6 January 2022
            Licensed by Copyright Agency and must not be copied without permission.

              Venice Energy gets Outer Harbor LNG terminal approval

              Oil & Gas Journal, 28 December 2021

                LNG import terminal granted development approval

                Venice Energy Media Release, 23 December 2021

                  Rush to import gas as supply crunch looms

                  The Australian, 30 August 2021
                  Licensed by Copyright Agency. You must not copy this work without permission.

                    Venice signs up Austral Construction for early contractor works

                    Venice Energy Media Release, 30 August 2021

                      Gas study to help looming east coast gas shortage

                      Venice Energy Media Release, 2 August 2021

                        Venice Energy signs up Greek company GasLog to supply major piece of kit for gas import plans

                        The Australian, 6 July 2021
                        Licensed by Copyright Agency. You must not copy this work without permission.

                          Proposed SA gas importer eyes ASX listing

                          The Advertiser, 1 July 2021 (paywall)

                            South Australian LNG import facility advancing

                            Project Finance International, 18 November 2020

                              Designs on $200m gas-import project

                              The Advertiser, 5 November 2020
                              Licensed by Copyright Agency. You must not copy this work without permission.

                                SA gas importer plans listing to support $200m terminal

                                Financial Review, 5 November 2020
                                Licensed by Copyright Agency. You must not copy this work without permission.

                                  Project agreement signed for LNG import facility at Outer Harbor

                                  Venice Energy Media Release, 4 November 2020

                                    Venice Energy eyes 2021 FID for Outer Harbor LNG

                                    Singapore (Argus Media, 28 April 2020)

                                    Private-sector Australian firm Venice Energy expects to take a final investment decision (FID) on its Outer Harbor floating LNG import terminal project in Adelaide, South Australia (SA) by February 2021, with the terminal expected to start up by the end of the year.

                                    A combination of factors including prospective buyers expressing interest in securing their own cargoes and a change in wharf design forced the firm to push back its timeline by a year from its initial target of a late 2019 FID, said Venice Energy managing director Kym Winter-Dewhirst.

                                    The firm is aiming to begin construction on the project in March next year, with commissioning and the import of a first LNG cargo by the end of 2021, he added.

                                    Venice Energy is targeting throughput of around 80PJ (2.14bn m³) of gas in the first year, which it expects could increase to 140-150PJ in subsequent years as off-taker requirements rise. The firm aims to supply gas to SA and western Victoria, both of which face firm heating demand in the winter months from June to August.

                                    The project will involve a floating storage regasification unit, as well as the construction of a 500MW gas-fired power plant that will be delivered in two 250MW stages. Venice Energy intends to secure government approvals for the power plant once it finalises its investment decision on the terminal and expects a start-up of the plant by 2024, at the latest.

                                    The firm intends to operate the terminal based on a third-party processing model, with off-takers responsible for securing their own LNG. Potential customers had suggested they will prefer to import the LNG themselves, leading the firm to decide that it should focus on building infrastructure.

                                    “We realised that to trade gas we would either have to acquire or hire that skill set ourselves, though we remain open to that option in the future,” Winter-Dewhirst said.

                                    The project is estimated to cost A$830m ($538mn) in total, with A$180m for the import terminal and A$650m for the power plant. The firm has secured one customer so far, with an agreement signed in December last year. Winter-Dewhirst declined to reveal details about the customer or the import capacity it has signed up for at the terminal.

                                    Venice Energy faces stiff competition in bringing the Outer Harbor project on line. Another three other LNG import projects. with total planned nameplate import capacity of 10.5mn t/yr, are vying to be developed along Australia’s east coast in the next two years to meet gas demand as domestic production starts to shrink from 2022.

                                    Australian-Japanese consortium Australian Industry Energy (AIE) and South Korea’s Epik plan to make an FID on their projects in New South Wales (NSW) this year. AIE is looking to develop its 2mn t/yr Port Kembla LNG import terminal, while Epik has proposed to build its 4.5mn t/yr Newcastle LNG import terminal. Australia’s AGL Energy last June postponed the timing of the delivery of a first LNG cargo to its Crib Point import terminal in Victoria to the second half of the 2021-22 fiscal year to 30 June, against a previous guidance of deliveries during 2020-21. It had said at the time that the project faces increased complexity over timing and costs but was still a compelling proposition.

                                    Industry participants are uncertain if gas demand on Australia’s east coast will be able to accommodate all four proposed terminals. ExxonMobil deferred a fifth project in December because of insufficient interest from prospective gas buyers in committing to long-term supply contracts.

                                    Demand in Australia’s southern states totalled 486PJ in 2019 and is projected to dip to about 387PJ, or 8.1mn t/yr in 2024, according to the Australian Energy Market Operator’s (AEMO) 2020 Gas Statement of Opportunities report released in March. East Australia could face gas shortages during its 2024 winter because of a 35pc drop in gas output from southern fields, including offshore Victoria and onshore NSW and SA, AEMO said.

                                    A projected decline in east Australian gas output makes importing LNG an attractive proposition, especially now when Asian spot LNG prices are at a discount to domestic Australian gas prices.

                                    An LNG netback indicator for east Australia, the Argus Gladstone fob prompt price — calculated by subtracting freight as well as costs associated with production from the delivered price of LNG to Asia-Pacific markets — fell to an all-time low of A$2.18/GJ ($1.48/mn Btu) on 27 April.

                                    Current east coast domestic gas prices have also softened but are around A$2-2.50/GJ higher than the LNG netback price.

                                    The AWX price, the Argus assessment for month ahead deliveries to Wallumbilla in Queensland was A$4.245/GJ on 24 April. It averaged A$5.429/GJ during January-March, down from A$9.607/GJ a year earlier. The AVX price, the Argus assessment for month ahead deliveries to Victoria, was assessed at A$4.820/GJ for the same day. It averaged A$6.28/GJ over January-March compared with A$9.913/GJ over the same period last year.

                                    Argus Media Singapore Group Pte. Ltd., 50 Raffles Place, #10-01, Singapore Land Tower, Singapore 048623

                                      Oz Firm to Operate Proposed FSRU on Tolling Basis

                                      LNG Intelligence, 30 April 2020

                                        News archive