This project would form a key part of the broader Geelong Energy Hub to be developed alongside the company's existing refinery located in Corio
Viva Energy (the “Company”) today announced it has commenced the process of seeking expressions of interest from commercial partners for the proposed LNG Regasification Terminal. This project would form a key part of the broader Geelong Energy Hub to be developed alongside the company’s existing refinery located in Corio.
Viva Energy recently announced plans to establish Geelong as a future “Energy Hub” for Victoria and South East Australia, provide skilled employment opportunities, support the transition to lower carbon energies, and enhance the country’s energy security.
After successful completion of initial technical studies on the LNG Regasification Terminal (LNGR), the company is intending to proceed to the front-end engineering and design phase of this project by the end of the year.
Viva Energy CEO, Scott Wyatt said that the business was looking to form commercial strategic partnerships with other companies that can support the LNG Regasification Terminal and the broader vision for the Geelong Energy Hub, the first integrated energy hub in Australia of its kind.
“Viva Energy is preparing for the future by investing in strategic infrastructure to help meet Australia’s rapidly changing energy demands” Mr Wyatt said.
“Our LNG Regasification Terminal offers gas producers, wholesalers and retailers an opportunity to gain access to the largest domestic gas market in Australia with pipeline links to other south eastern states.
“We hope to be able to bring gas from Australian production fields to where it is needed so that the whole country can enjoy the benefits of our vast resources and help bring energy prices down by increasing supply and competition.
“Our project builds on our existing refining infrastructure which makes it significantly more competitive than other proposals and naturally reduces any new environmental impacts. We are already set up to take large shipments of oil on a regular basis, and can easily accommodate additional LNG gas vessels alongside these operations
“Victoria needs additional gas, but it makes sense to build this alongside an established facility like Geelong where you have existing capability and experience with direct access to port, pipeline, and processing infrastructure.
“Geelong is already home to the state’s second largest port with significant employment and existing infrastructure to support projects like this. Viva Energy has been operating in Geelong for nearly 70 years and has invested nearly $500M over the last five years in modernising and improving its refining operations. The LNG Regasification project is the next step to establishing a leading Energy Hub.
“As part of our Energy Hub project, Viva Energy is currently assessing the feasibility to establish a solar energy farm on surplus refinery land and the potential for gas fired power generation and hydrogen production to support this emerging sector.
“We see opportunities to reduce our own emissions and support the transition to renewables by providing on-demand electricity and commercial volumes of hydrogen to kick start this industry in Victoria. These are all part of our vision for Geelong and we are excited about getting this underway with the construction of the state’s first LNG regasification terminal” Mr Wyatt said.
The expressions of interest opportunity exists to partner with Viva Energy in bringing the Energy Hub Project to market.
The EOI information outlines Viva Energy’s vision and longer term goals of the Energy Hub, in addition to demonstrating the unique attributes Geelong has as the preferred location for a LNG Regasification Terminal in Australia.
Mr Wyatt said that Viva Energy had a proven track record in running industrial facilities, and project delivery, both regionally and across Australia, making it an ideal developer, partner and operator of the Project.
“Viva Energy is a proven and experienced operator, currently supplying half of Victoria’s liquid fuel requirements.
“Our vision is to create an integrated Energy Hub that will support Australia’s evolving energy needs” Mr Wyatt said.
Source: Company Press Release