Viva Energy seeking FSRU for proposed LNG terminal in Geelong, Australia

Australia’s Viva Energy is looking to secure a floating storage and regasification unit (FSRU) for its proposed LNG import terminal in Geelong, Australia and has engaged Poten & Partners brokerage to secure the FSRU.

"Poten & Partners is casting a wide net, seeking expressions of interest from the global maritime industry to supply an existing FSRU or retrofit an LNG carrier into an FSRU for the terminal," Viva said.

Viva’s specification for an FSRU for the new terminal said the need is for a vessel with a capacity of between 160,000 m³-180,000 m³ of gas, capable of delivering up to 750 million standard cubic feet of gas per day.

Viva, which agreed a memorandum of understanding for supply to the proposed terminal with Australia’s Woodside LNG as far back as 2021, is currently awaiting regulatory approval for its plans to construct the LNG terminal adjacent to its oil refinery in Geelong.

An environmental impact assessment from the Victorian state government is anticipated in April this year, setting the stage for Viva Energy to make a final investment decision by the end of 2025.

At the time of the deal with Woodside, Viva Energy chief executive Scott Wyatt pointed to the benefit of an import terminal when compared with construction of over-land pipelines. Viva Energy also said in 2021 that it planned to submit an environmental effects statement to regulators by the end of 2021 and take final investment decision on the project in 2022, targeting first LNG imports in 2024.

Those plans, however, have been pushed back.

If greenlit, the terminal is slated to commence operations in 2028. This would be, according to Viva, "in time to address the gas shortfall forecast for Australia’s southeast coast".

The company confirmed negotiations with potential capacity holders are "well advanced".