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.

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