Marubeni Corporation and JERA have agreed with Squadron Energy to conduct a joint feasibility study in an effort to set up an LNG import terminal and gas supply project in New South Wales, Australia.

The Japanese duo and Australia’s Minderoo Group subsidiary signed a Memorandum of Understanding for the project.

The feasibility study is part of a potential project to develop an LNG import terminal at an existing port in NSW, which will include chartering a floating storage and regasification unit (FSRU), construction of associated onshore and offshore facilities, and provision of gas to local customers in NSW.

The companies informed that the study will include initiation of gas marketing in NSW as well as making soundings regarding procurement of LNG through JERA’s global network.