Viva Energy (45.8% owned by Vitol) has entered into commercial agreements with Geelong Port to build infrastructure for 4.9-5.8 bcm/year (500-600 TJ/d) Geelong LNG import project to meet Victoria and South East Australia’s energy needs. The deal involves the construction of an extension to the existing Refinery Pier to provide an additional berth for a permanently moored Floating Storage and Regasification Unit (FSRU). Under the agreement, Geelong Port will construct the extension and license the pier to Viva Energy. Viva Energy will, in turn, build the related infrastructure including a gas pipeline and treatment facility to enable gas to be supplied into the network. The start of construction remains subject to conditions, including Viva Energy's final investment decision (FID) and the environmental approval of the project.
Australia, which has a liquefaction capacity of 87 Mt/year (193 bcm/year), does not currently have LNG import terminals. The country exported 106 bcm of LNG in 2021 (-2% compared to 2020). Viva Energy owns and operates a 128,000 bbl/d oil refinery in Geelong (Victoria). The group was created in 2014 after the Dutch energy trader Vitol bought Shell's refining and distribution in Australia.
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