Energy suppliers see demand for gas imports in race to avert shortfall

Fresh warnings of gas shortfalls emerging in Victoria and NSW are lifting expectations that utilities will strike deals with shipping terminals vying to import super-chilled liquefied gas to Australia for the first time.

Squadron Energy, part of the billionaire Forrest family’s Tattarang Group, is building what could become Australia’s first terminal capable of receiving LNG from Queensland or overseas, and turn it back into vapour to be supplied to homes and businesses. “There has been some good positive engagement from customers because they are looking at their gas books 18 to 24 months out,” he said. “Customers need a solution.”importing LNG shipments at the site of its Geelong oil refinery

“The structural gas decline from 2028 needs to be filled one way or another, so the rubber is hitting the road,” Pfeiffer said.who argue it is too close to residential areas and schools, and fear it will set back Australia’s climate ambitions by entrenching the use of harmful fossil fuels.Viva believes it can clear environmental hurdles when the project is put out again for public consultation later this year.

“The findings of the latest gas statement of opportunity report point to the risks from not moving quickly enough to get Victorians off polluting methane gas and making a fast and equitable shift to clean renewable electricity,” Environment Victoria’s Joy Toose said. Perth-based energy giant Woodside has agreed to supply LNG from WA to Victoria if Viva Energy’s Geelong terminal proceeds. However, Ramsay noted the project was being held back by the Victorian government’s environmental review and was yet to sign up customers.

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