Viva Energy to Commit to Oz LNG Regas Terminal Feed by Year-End
Sydney-listed fuel supplier Viva Energy is intending to proceed to the front-end engineering and design (Feed) phase of the proposed LNG regasification terminal at Geelong in the state of Victoria by the end of the year, it said on August 17 in its half -yearly results report.
“Looking forward, we continue to progress several key projects as part of our recently announced Geelong energy hub, with an expressions of interest process to establish an LNG regasification facility underway. We expect to be in a position to commit to Feed work before year-end and continue work on other opportunities associated with the energy hub,” Viva Energy CEO Scott Wyatt said.
This project would be part of the broader Geelong energy hub to be developed alongside the company's existing refinery located in Corio. The company had first announced its plans to set up an LNG import and regasification terminal in June. Last month, it started the process of seeking expressions of interest from commercial partners for the terminal.
According to the company, the project will build on its existing refining infrastructure which makes it significantly more competitive than other proposals and reduces any new environmental impacts.
Another Australian company, AGL, has also proposed to build an LNG import terminal in Victoria but the project is facing delays. US major ExxonMobil too was in the race but shelved its plans late last year.