Nebula’s Singapore arm signs off on Australian entry to call the shots at LNG terminal

August 13, 2025, by Melisa Cavcic

AG&P LNG, a Singapore-based subsidiary of Florida-headquartered Nebula Energy, has laid the groundwork for its entrance into the Australian liquefied natural gas (LNG) market with the acquisition of an LNG terminal from Venice Energy, a developer of this import terminal project in South Australia, which is said to be the world’s first floating LNG (FLNG) import terminal that will run on 100% renewable energy.

Outer Harbor project site in February 2024; Source: Venice Energy

Following a series of negotiations over the past eight months after the signing of a binding term sheet between the two companies in October 2024, an investment agreement was signed on August 11, 2025, which enables AG&P LNG to buy Venice Energy’s South Australian (SA) LNG terminal project.

US firm bankrolls its Singapore arm’s entrance into Australian LNG market

Business & Finance

Thanks to this sale agreement, AG&P LNG will provide 100% of project financing and will construct and operate the SA LNG terminal for which a final investment decision (FID) is expected later this year, as the government has already given its blessing for the project.

As a result, site enabling works were completed earlier this year. Venice Energy and AG&P LNG have been working together over the past eight months to secure off-take customers through a combination of long-term and short to mid-term gas sales agreements.

According to the Australian energy infrastructure developer, the development plan for the LNG import terminal in Outer Harbor, located in Port Adelaide, includes an FSRU with a minimum storage of around 145,000 cubic meters, two new wharfs, loading arms, cryogenic piping, pumps, and associated infrastructure.

Kym Winter-Dewhirst, Venice Energy Chair, highlighted: “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.”

Bringing the $300 million Outer Harbor LNG project to life is envisioned to convert a 145,000 cbm LNG carrier (LNGC) into a floating storage and regasification unit with a peak send-out capacity of 400 mmscfd.

The 2 mtpa LNG import terminal, slated for commissioning in Q1 2027, is expected to be one of the first terminals in the world to power its operations with 100% renewable energy.

This comes after AG&P LNG agreed to form a joint venture company in India with a local LNG player and join the latter’s LNG regasification terminal in the Asian country.