The Port Kembla gas terminal has signed up its first customer.
But it won't have to deliver the gas for more than a year.
The terminal, which received planning approval in April, has signed up EnergyAustralia to a five-year deal starting on January 1, 2021.
The deal would see the terminal supply 15 petajoules of gas each year (one petajoule is enough to power 19,000 homes for a year).
Earlier this month Squadron Energy CEO Stuart Johnston - chairman of the terminal steering committee - said they were in the process of locking in customers to ensure it was financially viable to construct the terminal.
EnergyAustralia is the first of those, with others close to confirming a deal with the terminal's consortium Australian Industrial Energy (AIE).
The joint venture expected to make a final decision on whether to proceed with the terminal soon.
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"Our agreement with EnergyAustralia shows that the Port Kembla gas terminal is a real solution for Australian energy retailers and manufacturers looking to avert the looming gas supply crisis," Mr Johnston said.
"Further to our agreement with EnergyAustralia, AIE is deep in negotiations with a range of industrial businesses looking to shore up supply over the coming years. It's clear from the conversations we are having that they want to take decisive action to secure their positions through the short to medium term."
EnergyAustralia's Markets Executive Ross Edwards felt operations like the Port Kembla terminal were the way of the future.
"We think commercial market-based solutions are the best, most efficient way to fill the supply gap and ease pressure, not just on gas prices, but power prices too."