Venice Energy's search for LNG development partners receives strong interest
The future of a proposed LNG import terminal project in South Australia has become clearer following strong interest from several international energy development companies with ties to both the U.S. and Asia.
Project developer Venice Energy announced that its search for development partners for the $300-MM project in Port Adelaide has moved to formal negotiations with several major companies.
“The good news is that we now have a formal written offer on the table and have made significant advances with companies that develop and operate LNG import terminals and energy-related infrastructure around the world,” said Venice Energy Chair, Kym Winter-Dewhirst. “The companies we are negotiating with have the balance sheet strength and the on-the-ground expertise to fully develop this type of project,” he added.
“In a vote of confidence in both the project and Venice Energy, the companies have insisted that our project team remains in place during the two-year construction period and the commissioning phase. “Obviously, there is still some distance to travel to lock in the best partners for the project, and we will work through these options via our own due diligence process. “Our aim is to finalize this and push hard towards a Final Investment Decision by August this year, with a construction start date in October,” said Mr. Winter-Dewhirst.
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