Australia's Viva Energy plans to make final investment decision (FID) on its LNG imports floating terminal (FSRU) at Geelong next year as it aims to achieve net-zero carbon emissions from all its non-refining operations by 2030 and committed to a 10% reduction in emissions intensity from its Geelong refinery by the end of the decade.
The Australian energy company plans to submit its environmental effects statement to Victoria state regulators by the end of December, with a state ruling expected by June, and aims to make the FID in the third quarter of 2022.
The LNG import project to be built in Victoria could help fill a looming gas supply shortfall in southeast Australia from the mid-2020s, Viva Energy said, adding that the state faces a gas supply shortfall from 2024 unless an LNG import terminal is built. "Our view is that gas short is coming on and our project is the best-placed to supply that replacement gas.

According to the Global LNG Database®, Viva Energy has signed MOUs with two commercial partners for its proposed Geelong terminal in December 2020. The partners comprise two consortiums, the first being a partnership between Engie and Mitsui & Co. and the second between Vitol and VTTI.
Earlier, an Expressions of Interest (EOI) process was conducted by the Australian company to seek proposals from commercial parties to partner alongside Viva Energy in its role as terminal developer, operator and user.
Viva is racing against Australian Squadron Energy which planned to build the first LNG import terminal in Port Kembla, in neighbouring New South Wales state.

 

 

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