VENICE ENERGY ACQUISITION WILL KEEP THE GAS FLOWING IN SA

SEA Gas - operator of the natural gas pipeline between Port Campbell in Victoria and Adelaide - has welcomed the acquisition of Venice Energy by AG&P LNG and its objective to build an LNG import terminal at Outer Harbor.

The LNG import terminal, which will facilitate the conversion of imported Liquid Natural Gas via a Floating Storage and Regasification Unit, will complement SEA Gas’s reconfiguration of its pipeline to facilitate bi-directional flow between South Australia and Victoria.

SEA Gas CEO Eric Bardy said the LNG import terminal was a key driver in an upgrade of the SEA Gas pipeline.

“The acquisition of Venice Energy by AG&P LNG and their commitment to the LNG import terminal is a great outcome for the security of gas supply in South Australia and our ability to send that gas to Victoria when needed,” Mr Bardy said.

“We look forward to working with AG&P LNG and our customers to ensure we can together achieve a reliable and efficient path into the east coast gas transmission network.

“Importantly, the terminal project is ‘shovel-ready’ and, given AG&P LNG’s end-to-end value chain solutions, we anticipate a secure gas supply from the facility to SA and Victoria by Q1 2027.”

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. The terminal will be one of the first in the world to operate exclusively on renewable energy.

Mr Bardy said the SEA Gas pipeline would continue to play a very important role in Australia’s energy transition as coal-fired generation is reduced and gas was increasingly required to backup renewables.

“We’ve been helping keep the lights on through reliable transport and storage of gas into South Australia for 20 years, and this project will facilitate and enhance our ability to create a secure gas supply well into the future,” he said.