Viva Energy<\/a> has selected and entered into memorandums of understanding with two partners about the development of the gas terminal project and its related capacity.<\/p>\nThe partners – the consortia of ENGIE Australia & New Zealand and Mitsui & Co. Ltd., and Vitol and VTTI, respectively – will work with Viva Energy on the upcoming design and development phase of the gas terminal, which will see LNG transported to Corio Bay by sea and transferred to a Floating Storage and Regasification Unit (FSRU) permanently docked at the refinery.<\/p>\n
\u201cThe support of these partners further demonstrates the strong credentials of Geelong as the preferred location for a LNG terminal in south-eastern Australia,\u201d Viva Energy\u2019s update to the Australian Stock Exchange stated late last year.<\/p>\n
\u201cThe Geelong site is strategically located within Australia\u2019s largest gas market, has the benefit of an industrial facility and port infrastructure, and provides close integration into the nearby energy infrastructure, including Victoria\u2019s gas transmission network.\u201d<\/p>\n
Viva Energy has started the tender process for the FSRU as well as the the technical design phase of the gas terminal project.<\/p>\n
The company predicts a final investment decision could be made by mid-2022, with gas supply in 2024.<\/p>\n
Viva Energy chief executive officer Scott Wyatt said the experience and capability of its partners in LNG terminals and gas markets would assist the company in continuing to fast-track the project through to a final investment decision.<\/p>\n
\u201cThe project will bring new gas supply and competition to our domestic gas markets and is an important part of our wider vision to further develop Geelong as an Energy Hub for Victoria, and to support the transition of Victoria to lower carbon energies,\u201d Mr Wyatt said.<\/p>\n
\u201cWe believe that natural gas will continue to play an important role in providing energy and thereby supporting the further development of lower carbon, but intermittent renewable energy generation.
\n\u201cOur Geelong site is uniquely placed to deliver on this project, and we are very excited about this opportunity to play a role in the energy transition.\u201d<\/p>\n
ENGIE Australia & New Zealand chief executive officer Augustin Honorat said partnerships were an important part of accelerating the transition to a carbon-neutral economy.<\/p>\n
\u201cThis project has the potential to leverage ENGIE\u2019s and Mitsui\u2019s global experience to help develop the Geelong Energy Hub and provide residential and business customers with cleaner and more affordable energy supplied via efficient infrastructure,\u201d Mr Honorat said.<\/p>\n","protected":false},"excerpt":{"rendered":"
GEELONG is being touted as the best place in Australia\u2019s south-east to build a new liquid natural gas (LNG) terminal, with Viva Energy continuing with its plan to transform its refinery in the city into the Geelong Energy Hub. As well as the gas terminal project, which would supply a new source of gas for […]<\/p>\n
Read More…<\/a><\/p>\n","protected":false},"author":142,"featured_media":37480,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[7],"tags":[],"post_folder":[],"class_list":["post-37462","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"\nEnergised: Viva finds partners for Geelong refinery projects - Geelong Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/timesnewsgroup.com.au\/geelongtimes\/news\/viva-geelong-refinery-projects\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Energised: Viva finds partners for Geelong refinery projects - Geelong Times\" \/>\n<meta property=\"og:description\" content=\"GEELONG is being touted as the best place in Australia\u2019s south-east to build a new liquid natural gas (LNG) terminal, with Viva Energy continuing with its plan to transform its refinery in the city into the Geelong Energy Hub. 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