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The firm said on Monday that it has engaged LNG consultant Poten & Partners to secure the FSRU.
“Poten & Partners is casting a wide net, seeking expressions of interest from the global maritime industry to supply an existing FSRU or retrofit an LNG carrier into an FSRU for the terminal,” Viva Energy said.
The new terminal demands a vessel with a capacity between 160,000 cbm and 180,000 cbm of gas, capable of delivering up to 750 million standard cubic feet of gas per day.
Viva Energy said it is awaiting regulatory approval for its plans to construct the LNG terminal adjacent to its oil refinery in Geelong.
“An environmental impact assessment from the Victorian state government is anticipated in April this year, setting the stage for Viva Energy to make a final investment decision (FID) by the end of 2025,” it said.
If greenlit, the terminal is slated to commence operations in 2028 – in time to address the gas shortfall forecast for Australia’s south-east coast.
Viva Energy confirmed negotiations with potential capacity holders are “well advanced.”
The firm did not provide further details.
Back in 2022, Viva Energy entered into commercial agreements with GeelongPort for the planned FSRU-based LNG import terminal.
The deal included the construction and provision of the necessary pier and berthing infrastructure for the LNG import project.
Prior to that, Viva signed deals with Woodside and Hoegh LNG, now Hoegh Evi, for the planned FSRU-based terminal.
Under heads of agreements, Woodside planned to book regasification capacity while Hoegh planned to provide the FSRU for the project.