Australian privately owned Venice Energy is planning fast-track liquefied natural gas imports into Adelaide, South Australia, via a floating storage and regasification unit that is targeting operational start-up in mid-2020.

Venice has unveiled plans for a phased LNG import and power plant project with estimated capital expenditure of up to A$800 million (US$593 million).

The company intends to submit its plans to the South Australia state government and, if approvals are in place by next March, construction could start by June 2019.

“And then we could have first gas into the South Australian market by June [or] July 2020,” Venice managing director Kym Winter-Dewhirst told Reuters.

Venice was established by former executives of Australian giant BHP Billiton.

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