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Viva Energy REIT

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Fuel giant Viva Energy says there is growing recognition that time is running out to protect homes and businesses from a crippling gas shortage hitting southeastern Australia as it prepares to resubmit its bid for approval to begin importing liquefied gas. Although Australia is one of the world’s top exporters of liquefied natural gas (LNG), rapid declines in production from offshore gas fields in Bass Strait have intensified warnings from authorities that Victoria, NSW, South Australia could face domestic shortfalls on days of heavy winter demand. By 2028, the entire east-coast gas market will be in deficit, warns the energy market operator, unless more supplies of the fossil fuel are urgently made available. Viva Energy, which owns the Geelong oil refinery and Australia’s Shell and Liberty Oil petrol station networks, said on Monday it was close to resubmitting its environmental application to extend a pier from the Corio Bay refinery where it would park a vessel capable of receiving cargoes of LNG from other parts of Australia or overseas and turn it back into vapour. The project was initially planned to bring first gas by the winter of 2024, but a final investment decision on the project was pushed back amid a drawn-out environmental approvals process and requests from the state government for additional information on its potential local impacts. “We have largely completed the additional studies that we sought as part of the environmental approval process, and we are very close to being able to restart the process,” Viva chief executive Scott Wyatt said. If the Victorian government approval process concluded by the end of the year or early 2025, he said, Viva was confident it could sign the necessary commercial deals with gas retailers or industrial buyers to underpin the investment, and could start delivering gas to the market by “mid-2028″, in time to help alleviate the threat of shortfalls. “That’s the timing we are working to at the moment,” Wyatt said. “A lot of that depends on how long the environmental approval process now takes.”

Fuel giant says it’s time to get on with gas import plan

One of Australia’s biggest fuel suppliers says there is growing recognition that time is running out to avert a gas crisis in the nation’s south-east.

  • Nick Toscano

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Viva Energy operates the co-branded Shell and Coles Express petrol stations.

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A major blackout and poor refining performance have forced petroleum company Viva Energy to drop its earnings forecasts, wiping $770 million off its value on Monday.

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Viva Energy has prepared for one of Australia’s largest ever non-government listing, despite hitting the bottom range of offering expectations.

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Viva Energy launches its $5 billion ASX float, but not all is for sale

Viva Energy launches its $5 billion ASX float, but not all is for sale

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Viva Energy IPO forecast to be one of Australia's largest

Viva Energy IPO forecast to be one of Australia's largest

Viva Energy is preparing to launch in July one of Australia’s largest ever public listings, valued at up to $6.2 billion.

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Original URL: https://www.brisbanetimes.com.au/topic/vvr-1ms