Geelong FSRU

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Geelong FSRU Terminal is a proposed floating storage and regasification unit (FSRU) LNG import terminal in Victoria, Australia.

Location

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Project Details

• Owner: Viva Energy
• Location: Victoria, Australia
• Coordinates: -34.495401, 137.481029 (approximate)
• Capacity: 2.5 mtpa
• Status: Proposed, Pre-FID
• Type: Import
• Start year: delayed, formerly 2024
• Cost: AUD 250 million
• FID status: Pre-FID (delayed, expected in 2025)
  • formerly 2022, 2023

Note: mtpa = million tonnes per year; bcfd = billion cubic feet per day

Background

In December 2020, Australian refiner and marketer Viva Energy announced that it has initial agreements with two consortiums over the development of an LNG import terminal next to its 128,000 b/d Geelong refinery in Victoria. Viva plans to make a final investment decision (FID) on the project by the middle of 2022 and have first gas delivered in 2024.

The agreements are with a consortium of Japanese trading house Mitsui and French energy firm Engie, and the second is with Viva's major shareholder trading firm Vitol.

The import terminal will be able to source LNG from both international markets and domestic Australian producers.

Viva has approved funding for the project's initial engineering and started a tender process for the construction of the floating storage regasification unit (FSRU).

FEED work for the project began in August 2022.

In March 2023, The Age reported that the project plans were at risk for further delays "amid concerns about gas supply shortfalls, after the Andrews government requested more detail on the project’s environmental impact." There has been opposition from community members and environmentalists around the terminal's proximity to residential areas and potential for locking the region into further fossil fuel consumption.

As of February 2024, Viva Energy was expecting to reach the FID in 2025.

Opposition

In May 2022, it was reported that a large-scale community movement had development around opposition to the terminal, including over 2000 submissions against the proposal after Viva Energy released the environmental impacts statement.