Venice Energy is seeking major investors to help it develop its planned FSRU-based LNG import project at the Port of Adelaide, South Australia.
According to a statement by Venice Energy on Friday, the company will return to the market to seek major investors to enable the project.
Venice Energy chair, Kym Winter-Dewhirst, said the decision to return to the market at this time “reflects the views of its shareholders, that as the project has progressed towards FID the value of the company has increased.”
“Our shareholders believe it’s the right time to return to the market to seek the investment required to progress to the next stage,” he said.
In the coming weeks, Venice Energy we will appoint a specialist international M&A advisory team to manage the process.
“Demand for LNG is growing across the world, in particular within the Asia-Pacific region, but at the same time domestic gas production in Australia and upstream investment is continuing to decline,” Winter-Dewhirst said.
“Our gas import terminal, based in the Outer Harbor at Port Adelaide, will provide an important entry point for a new gas supply to meet demand in the southern states,” he said.
“It will also open the country to potential shipments of Australian LNG via a virtual pipeline using LNG ships servicing the northwest shelf in WA and Gladstone in Queensland in a cost-effective way,” Winter-Dewhirst added.
Nebula Energy’s AG&P LNG
Venice Energy said that its 2 mtpa Outer Harbor LNG import terminal is worth about A$350 million ($252 million).
In August 2025, Venice Energy announced that it had agreed to sell its project to Nebula Energy’s AG&P LNG.
This followed a “complex series of negotiations” after the signing of a binding term sheet between the two companies in October 2024.
Following the announcement, AG&P LNG said it had signed a memorandum of understanding with an Australian integrated energy provider under which the latter may become a significant offtaker of the proposed Outer Harbor LNG terminal in South Australia.
FSRU conversion
In February 2024, Venice Energy signed a deal with AG&P LNG to secure a converted FSRU for its planned project.
The company said that Greece’s GasLog sold the vessel assigned to Venice Energy’s project to AG&P LNG.
Venice signed a heads of agreement with Greece’s GasLog in July 2021, under which the latter agreed to supply an FSRU for the project.
AG&P LNG plans to convert a 145,000-cbm LNG carrier to an FSRU with a peak sendout capacity of 400 mmscfd. (September 4, 2026, Source: https://lngprime.com/australia-and-oceania/venice-energy-seeks-investors-for-australian-lng-import-project/196249/)
AUSTRALIA - LNG - SUPPLIES - IMPORTS - EXPORTS