Australia’s Viva welcomes new partners for Geelong LNG project

Australia’s Viva Energy has signed initial deals with two consortiums that showed interest in supporting a planned LNG import terminal at its Geelong refinery.

The first consortium includes Engie’s local unit and Japan’s Mitsui & Co, while the other consists of Dutch trader Vitol and energy storage provider VTTI, Viva Energy said.

Under the memorandums of understanding, the partners will work together with Viva Energy with the intention of participating in the forthcoming design and development phase of the project.

These deals do not include binding commitments as to capacity, ownership in, and offtake from, the proposed terminal.

Viva Energy says these will be sought at the time of a final investment decision to proceed.

To remind, the downstream player announced earlier this year it plans to build the LNG import facility. The plans include installing an FSRU as part of its Geelong energy hub in the south-eastern Australian state of Victoria.

According to the Australian firm, the LNG terminal could have the capacity to supply around half of Victoria’s gas needs.

Viva Energy has already started the tender process for the FSRU charter, a key component to the delivery of the project.

Apart from the LNG importing facility, the Geelong hub would include a solar energy farm on surplus refinery land, and support the emerging hydrogen industry.

Viva says that it could take a final investment decision by mid-2022, with gas supply in 2024, in order to service the expected gas supply shortfall in the Victorian market.

Most Popular

Woodside terminates Commonwealth LNG SPA

Australian LNG player Woodside has terminated its two LNG sale and purchase agreements with US LNG terminal developer Commonwealth LNG.

Thailand in Alaska LNG talks

Thailand's PTT and Egco will engage in further discussions to potentially participate in the development and buy volumes from the planned Alaska LNG project, according to Thailand's Ministry of Energy.

Energy Transfer seals Lake Charles LNG supply deals

Texas-based Energy Transfer has signed new supply deals for its planned Lake Charles LNG export facility in Louisiana as it works to take a final investment decision by the end of this year, according to its management.

More News Like This

Adnoc, Mitsui seal Ruwais LNG supply deal

UAE's Adnoc has signed a 15-year sales and purchase agreement with Japan’s trading house Mitsui & Co to supply the latter with liquefied natural gas from its LNG terminal in Al Ruwais.

Australia’s Viva Energy seeks FSRU for Geelong project

Australia’s Viva Energy is looking to secure a floating storage and regasification Unit (FSRU) for its proposed LNG import terminal in Geelong, Australia.

Vitol boosts LNG volumes in 2024

Energy trader Vitol boosted its liquefied natural gas (LNG) volumes by 10 percent in 2024.

Vitol to buy stake in Eni’s Congo LNG project

Geneva-based energy trader Vitol has agreed to buy a stake in Eni's Congo LNG project as part of a...