ENGIE Australia & New Zealand and Viva Energy have entered into a Memorandum of Understanding (MOU) to develop an LNG regassification terminal at its Geelong refinery site in Australia.
Regassification is the process of turning liquified gas typically transported by ship, into natural gas for use in homes and businesses.
Project partnerships such as this one are an important part of the ENGIE strategy to accelerate Australia’s transition to a carbon-neutral economy.
Through the MOU, ENGIE and Mitsui & Co. Pty Ltd have committed to participating in the forthcoming design and development phase of the project, and to work exclusively (in Australia) with Viva Energy on this opportunity.
The Geelong site is strategically located within Australia’s gas market, has the benefit of an existing industrial port and industrial facility, and provides close integration into the nearby energy infrastructure, including Victoria’s gas transmission network.
As the hub’s location and current usage means that the project can be implemented with minimal change to the existing site and local amenity, the MOU is a strategic fit with ENGIE’s intentions to accelerate the transition to a carbon-neutral economy.
The MOU gives ENGIE opportunities to be involved in a facility that provides secure, long-term, affordable gas for residential and business customers, as well as developing alternative energies, such as hydrogen and solar.
ENGIE has experience in LNG import terminal ownership and operatorship, including the operation of three re-gas terminals in France and interests in re-gas terminals in Chile and in Puerto Rico.
Read the article online at: https://www.tanksterminals.com/terminals/09122020/engie-signs-mou-for-lng-regasification-terminal-development/