Australia's Viva Energy gets green signal for proposed Geelong LNG terminal
May 30 (Reuters) - Viva Energy Group (VEA.AX), opens new tab said on Friday the Victorian government has cleared the construction of its liquefied natural gas (LNG) terminal project in Geelong, amid growing concerns over a potential gas shortage in Australia.
The Australian government has been actively seeking gas supply commitments to help close the gap between supply and demand, following a warning from the country's competition regulator that the east coast may face a longer-term shortfall.
"We believe the LNG terminal is vital to ensure the secure supply of gas to the south-east market," Chief Executive Scott Wyatt said.
The fuel retailer said that the current timeline targets first gas delivery from the proposed project in time for the Victorian winter of 2028.
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