Venice Energy announced that it has signed a heads of agreement (HOA) with GasLog under which they will negotiate on a charter-party deal for the supply of a FSRU to be utilized at the Australian operator-proposed Outer Harbor LNG import terminal in South Australia.
GasLog will also provide a technical support crew to operate the facility over the life of the operations. The Greek shipping company “will bring both physical assets and technical expertise.”
GasLog has currently operated a fleet of 35 LNG vessels globally, under both GasLog Limited and GasLog Partners, “many under long term contracts to a suite of major energy firms”.
According to Venice Energy, government and other approvals for the Outer Harbor LNG project are due in the next few months, followed by an anticipated 12-month construction period from the project’s FID that will see the first shipment of LNG into the facility and connection to the state’s gas network by end of 2022 to early 2023.
“The project will create around 350 jobs during construction with a further 50 full-time positions once the terminal is operational.”
Background quoted from the Global LNG Database® :

On 5 May 2021, Venice Energy announced that it has finalized selection of a preferred supplier of a FSRU for its Outer Harbor LNG imports project. The company had launched its FSRU tender in December last year and received offers of participation from six of the world’s leading FSRU/LNG shipping companies. Three detailed offers were short-listed in early March 2021.
“We have signed the Heads of Agreement and Term Sheet with a leading global independent LNG shipowner and operator from Europe and we are beginning negotiations on the fully formed Time Charter Party agreement which is expected to be concluded in the coming weeks.”

 

 

Updates:

On 7 Mar. 2022, Venice Energy said that it is moving to accelerate the construction schedule for its Outer Harbor LNG import project and now hopes to take the final investment decision in the coming months as the Australian company has been advancing negotiations with potential off-takers of the regasified volumes.
Venice now expects to start construction of the terminal and related facilities in the second half of this year with first gas entering the state network by 2024 - or earlier depending on off-taker demand.
The LNG import project will also involve two new wharfs, loading arms, cryogenic piping and shore-based infrastructure with the ability to supply up to 140 PJ/Y of gas into the South Australian and Victorian markets.