• AG&P LNG agrees to acquire 100% of Venice Energy, developer of 2 MTPA
LNG Import Terminal (Outer Harbor).
• Florida-headquartered Nebula Energy, majority owner of AG&P LNG, to
fund the acquisition.
• Leveraging Nebula Energy’s integrated LNG value chain platform, AG&P
LNG to provide end-to-end solutions from LNG supply, terminal
development to operations and maintenance.
• AG&P LNG to convert a 145,000 cbm LNGC to Floating Storage and
Regasification Unit (FSRU) with a peak send out capacity of 400 mmscfd.
• The 2 MTPA Outer Harbor LNG Import Terminal expected to be
commissioned by Q1 2027.
Leading LNG terminals and downstream infrastructure
Singapore company, AG&P LNG, majority-owned by Nebula Energy, announced
that it has agreed to acquire Venice Energy, the developer of the 2 MTPA LNG import
terminal at Outer Harbor (Outer Harbor LNG Import Terminal) in Port Adelaide, South
Australia. AG&P LNG will build the Outer Harbor LNG import terminal by conversion of a
145,000 cbm LNGC to a Floating Storage and Regasification Unit (FSRU) with a peak send
out capacity of 400 mmscfd
Mr. Peter Gibson, Chairman, AG&P LNG said, “We are excited to enter the Australian
market with our decision to acquire Venice Energy. Venice Energy has got the Outer
Harbor LNG import terminal project shovel-ready with all key permits in place, offering a
key advantage over other LNG import terminal proposals in the region.
With our signature end-to-end LNG value chain solutions, from investment to LNG
supply, terminal development and operations and maintenance, AG&P LNG will work
with Venice Energy to bring the terminal online by Q1, 2027. Together, we will develop
this very timely and pivotal project to bridge the accelerating decline in gas supplies and
help reinforce energy security for South Australia and Victoria.”
Mr. Kym Winter-Dewhirst, Chairman, Venice Energy said, “Venice Energy’s 8-month
search for a strategic partner ended with our choice to go with AG&P LNG over and above
other major international energy infrastructure companies,”
“This is a milestone for Venice Energy and through our partnership with AG&P LNG we
can provide a secure gas supply to both South Australia and Victoria by Q1 2027.
AG&P LNG brings to us the financial muscle through Nebula Energy, majority owner of
AG&P LNG and its unique end-to-end integrated wider portfolio LNG terminal
development and operations capability.
We were impressed by AG&P’s expanding portfolio of LNG operations and terminal
projects across the Philippines, Vietnam, Indonesia and India.
The Outer Harbor LNG import terminal is poised to be among the first terminals to come
online and address the shortage of gas supply across southeast Australia.”
South Australia and Victoria have recently been faced with rapidly declining domestic
gas availability. The Outer Harbor LNG import terminal will serve to address gas
shortages as the domestic supplies continue to decline over the next decade. Further,
the Outer Harbor LNG import terminal is expected to improve energy security for South
Australia, enhancing grid stability and providing firm, dispatchable power to support the
state’s world-leading renewable energy sector. The terminal will create jobs, introduce a
new industry and attract significant investment to South Australia.
