AG&P LNG acquires South Australian LNG terminal project

Australia

ADELAIDE, August 13, 2025 – US-owned AG&P LNG has signed an agreement to acquire the South Australian LNG import terminal project from Venice Energy the companies announced on Monday.

AG&P LNG will fully finance, construct and operate the terminal.

The acquisition follows eight months of negotiations after a binding term sheet was signed in October 2024 and a final investment agreement was concluded on Monday.

The terminal, located in Port Adelaide’s Outer Harbor, is expected to begin operations in 2028 and aims to bolster energy security in South Australia while addressing anticipated gas supply shortfalls across southeastern Australia.

The project has already received government approval and completed site enabling works earlier this year. The final investment decision is expected later in 2025.

“Firstly, the regasification terminal will provide energy security to South Australia from 2028 onwards and secondly help alleviate forecast shortfalls in the gas supply market along the southeast of Australia,” Venice Energy chair Kym Winter-Dewhirst said.

Venice Energy is an Australian infrastructure developer focused on LNG. Its project in South Australia includes a floating storage and regasification unit with a minimum storage capacity of 145,000 cubic metres, two new wharfs, loading arms and cryogenic infrastructure.

AG&P LNG, a subsidiary of US-based Nebula Energy, is a global player in LNG import terminals and downstream infrastructure. The company develops and operates LNG regasification terminals and related logistics assets across Asia and the Middle East.

Photo courtesy of Venice Energy