Venice Energy seeks investors for $350M project
- Venice Energy returns to the market to secure major investors for its $350 million LNG import project.
- The decision follows a previous sale agreement that aimed for a late 2025 final investment decision.
- Regulatory uncertainty regarding federal domestic gas policies continues to hold up project timelines.
Venice Energy is seeking major investors to fund its $350 million South Australian liquefied natural gas import terminal.
The move follows an August agreement to sell the project to AG&P LNG before a final investment decision originally targeted for late 2025.
"Our shareholders believe it’s the right time to return to the market to seek the investment required to progress to the next stage," said Venice Energy Chairman Kym Winter-Dewhirst.
Uncertainty around the federal government's proposed domestic gas reservation scheme has delayed timelines, leaving all four proposed south-east coast LNG import terminals without confirmed customers.
Venice Energy stated that its planned terminal at Port Adelaide's Outer Harbour has increased in value as it progresses toward a final investment decision.
The company will appoint a specialist international M&A advisory team in the coming weeks to manage the capital raising process.