Venice Energy secures FSRU for Outer Harbor project

Back in mid-2022, Venice signed an FSRU supply agreement (time charter party agreement) with Greek shipping company, GasLog.

Last year, GasLog underwent a major restructure and in doing so made the decision to sell-off a number of vessels to others.

AG&P emerged as the purchaser of the vessel assigned to Venice Energy's project. Following meetings with them in Singapore late last year and this month in the UAE, Venice Energy has secured a new commercial agreement that guarantees the project will receive the converted FSRU at an improved cost and in a timely manner.

AG&P LNG are a global player in both LNG supply but more importantly in the conversion of LNG carriers into FSRUs, which is integral to the development of the Outer Harbor project.