Viva Energy Takes Oz LNG Import Terminal Plans Forward
Sydney-listed fuel supplier Viva Energy July 5 announced it has started the process of seeking expressions of interest from commercial partners for the proposed LNG regasification terminal at Geelong in the state of Victoria.
This project would be part of the broader Geelong energy hub to be developed alongside the company's existing refinery located in Corio. The company had first announced its plans to set up an LNG import and regasification terminal last month. It has not given any details about the potential size or cost of the proposed terminal.
Viva stated that after completion of initial technical studies on the terminal, it is intending to proceed to the front-end engineering and design phase of this project by the end of the year.
The company CEO, Scott Wyatt, said that the business was looking to form commercial strategic partnerships with other companies that can support the LNG regasification terminal and the broader Geelong energy hub.
"Our LNG regasification terminal offers gas producers, wholesalers and retailers an opportunity to gain access to the largest domestic gas market in Australia with pipeline links to other south eastern states,” Wyatt said. "We hope to be able to bring gas from Australian production fields to where it is needed so that the whole country can enjoy the benefits of our vast resources and help bring energy prices down by increasing supply and competition.”
According to the company, the project will build on its existing refining infrastructure which makes it significantly more competitive than other proposals and reduces any new environmental impacts.
"Victoria needs additional gas, but it makes sense to build this alongside an established facility like Geelong where you have existing capability and experience with direct access to port, pipeline, and processing infrastructure,” Wyatt said.
Another Australian company, AGL, has also proposed to build an LNG import terminal in Victoria but the project is facing delays. US major ExxonMobil too was in the race but shelved its plans late last year.