South Australian energy infrastructure developer, Venice Energy and one of Australia’s leading energy providers, Origin Energy (Origin), have agreed on a structural framework that will underwrite the commercial viability of the Outer Harbor LNG import terminal to be built at Port Adelaide, Australia.
The agreement comes 18-months after the project was approved by the South Australian Government and will see Origin become the single user of the terminal for a minimum of 10-years, with further extension options available.
Venice Energy chair and managing director, Kym Winter-Dewhirst, says: ‘This is a major milestone for this project and ensures that the stage 1 enabling works will begin shortly. The project’s approvals allow up to 110 petajoules per annum of LNG to pass through the terminal and into local and interstate gas networks, thereby reducing forecast gas shortages in the southeast of Australia from mid-2026 and beyond.’
Venice Energy secured government project approvals in December 2021. Stage 1 enabling works will begin in November. Construction of the terminal and associated infrastructure run for approximately 24 months.