An initial AUD 200M investment to help commercialize the closest gas field to Victoria’s eastern coastline is being considered by Australian Gas Infrastructure Group (AGIG).
The investment will deliver greater gas energy security to the East Coast gas market, enhance supply volumes and deliver Victoria a critical gas storage facility to underpin the state’s push to renewable energy.
The move is a partnership between the Australian Gas Infrastructure Group (AGIG) and GB Energy Holdings Limited (GB Energy).
AGIG and GB Energy announced recently that they have entered a non-binding but exclusive Transaction Process Deed which sets out the process for negotiating and executing documentation for AGIG’s proposal to fund, build and operate the midstream infrastructure for the Golden Beach Gas Project.
This would cover all the plant, property, equipment, and activities required for the transmission and processing of gas to and from the field. This work has an estimated development cost of approximately AUD 200M.
Gas from the Golden Beach gas field could be delivered as early as 2022 to the Longford Gas Hub and its associated strategic pipeline infrastructure, approximately 20km away in East Gippsland.