Viva Energy today announces that it has entered into commercial agreements with GeelongPort for the construction and provision of necessary pier and berthing infrastructure, for the proposed Viva Energy Gas Terminal in the Port of Geelong.
Viva Energy proposes this facility will provide a flexible and reliable supply of gas to meet Victoria and South East Australia’s ongoing energy needs within the backdrop of rapidly declining local gas production and forecast shortages expected to impact consumers over the next few years.
Gas is an important part of the energy mix for over 2 million households and 65,000 businesses in Victoria, and Viva Energy’s Gas Terminal will ensure those needs continue to be met as the market transitions to rely on more sustainable forms of energy.
The agreement involves the construction of an extension to the existing Refinery Pier to provide an additional berth for a permanently moored Floating Storage and Regasification Unit (FSRU) which will be capable of receiving Liquefied Natural Gas (LNG) imports from visiting vessels.
GeelongPort will construct the extension to the existing Refinery Pier and license the pier to Viva Energy. Viva Energy will construct the related infrastructure including a gas pipeline and treatment facility to enable gas to be supplied into the network.
This agreement reflects an important step in approval and development of the Viva Energy Gas Terminal, and provides a clear pathway to the construction and delivery of the necessary infrastructure underpinning the project. The commencement of construction remains subject to the satisfaction of certain conditions, including Viva Energy taking a Final Investment Decision with respect to the Project and the Minister for Planning's assessment of the environmental effects of the Project under the Environment Effects Act 1978 (Vic) that the Project will have acceptable environmental outcomes enabling it to proceed.
Viva Energy CEO Scott Wyatt welcomed the signing of the agreement as being an important milestone in the development of the gas terminal project. Mr Wyatt said, “Viva Energy has an almost 70-year history of operations in Geelong, is the largest shipper within the Port of Geelong accounting for over 50% of total port volumes, and is an important and longstanding customer of GeelongPort. We look forward to continuing this relationship, and working with the Port to complete this important new piece of Victoria’s energy infrastructure.”
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GeelongPort is Victoria’s second largest port located within Victoria’s largest regional city, Geelong. Managing close to 12 million tonnes of cargo and 600 vessel visits per year, GeelongPort supports the agriculture, construction, energy and tourism sectors.
As Victoria’s premier bulk port and a major driver of Victoria’s economy, GeelongPort facilitates more than $7 billion of trade annually. The location of GeelongPort makes it of high strategic significance for Victoria, providing easy access to logistics routes for trade through critical road, rail, air and channel connections for Geelong and south-west Victoria’s supply chains.
About Viva Energy
Viva Energy (ASX: VEA) is one of Australia’s leading energy companies and supplies approximately a quarter of the country’s liquid fuel requirements. It is the exclusive supplier of high-quality Shell fuels and lubricants in Australia through an extensive network of more than 1,330 service stations across the country.
Viva Energy owns and operates the strategically located Geelong Refinery in Victoria, and operates bulk fuels, aviation, bitumen, marine, chemicals and lubricants businesses supported by more than 20 terminals and 55 airports and airfields across the country.