Venice Energy inks FSRU supply deal with GasLog

Greece’s LNG shipping company GasLog has entered into an agreement with Venice Energy for the supply of an FSRU as part of a proposed LNG import terminal in South Australia.

The Outer Harbor Project is an LNG import terminal based on a floating storage and regasification unit (FSRU) in Port Adelaide, proposed by Australian developer Venice Energy.

GasLog signed a Heads of Agreement to negotiate a charter deal for the supply of FSRU. The company will also provide a technical support crew to operate the facility.

GasLog is currently involved in a number of LNG import facility projects including offshore Greece in Alexandroupolis, Panama and soon to be Australia.

“We believe this project will provide a positive contribution to the South Australian energy market through helping to deliver cleaner energy to underpin the renewable sector,” stated CEO of GasLog, Paul Wogan.

Government and other approvals for the project are expected in the next few months, followed by an anticipated 12-month construction period.

The facility is expected to be operational by late 2022 to early 2023.