Vopak AS has submitted an environmental plan to the Victorian government for a proposed LNG import terminal in Port Phillip Bay.
The project, the Victoria energy terminal, was unveiled in March 2021 to supply gas to Australia’s southeast coast market during predicted shortfalls during the transition toward a renewable energy future, the company said.
The project includes a floating storage and regasification unit (FSRU) in Port Phillip Bay about 19 km offshore. Incoming LNG carriers would dock at the terminal to offload cargoes for regasification. The gas would then be transported by undersea pipeline plus a short onshore line to connect to Victoria’s existing network. Project completion is anticipated in 2026.
The Australian Federal Government’s recent move to cap gas prices is seen as a potential positive for imported gas projects as it could deter investment in the development of local gas supplies.
A number of LNG import terminal projects are now in various stages of planning and development in the eastern half of Australia, including Squadron Energy’s Port Kembla project in New South Wales and Viva Energy’s proposed Victorian terminal near Geelong.
Hearings on Viva’s environmental plan were completed in August and the company is awaiting a determination from the State Government.