According to The Australian Financial Review, Japan's Mitsubishi Corporation is backing the joint venture that is working to solve South Australia's future energy needs with a "virtual pipeline" project that would see liquid natural gas imports linked to a new firming capacity power station.
The now $800 million project proposed, which was reported first in The Australian Financial Review in March last year, has been developed by a group of former BHP managers who work at Melbourne-based management consultancy Integrated Global Partners.
Mitsubishi has invested $15 million to fully finance a feasibility study on a proposal to land imported shipments of liquid natural gas at Pelican Point, 20 kilometres south of Adelaide, where it would be converted, stored and used to fuel a related power station development and be sold into South Australian gas markets.
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