AGIG is assessing the possibility of investing $200 million to construct the midstream infrastructure for GB Energy’s Golden Beach Gas Project.
Australian Gas Infrastructure Group (AGIG) has proposed to fund, build and operate the infrastructure, with the company having entered into a non-binding but exclusive transaction process deed with GB Energy, which sets out the process for negotiation.
The $200 million investment would cover the plant, property, equipment and activities required for the transmission and processing of gas to and from the Golden Beach field, located near the Victorian coastline.
AGIG said gas from the project could be delivered to the Longford Gas Hub, approximately 20 km away, as early as 2022.
“Our planned involvement in this key Victorian energy asset reflects AGIG’s focus on delivering world-class infrastructure across Australia,” said AGIG Chief Executive Ben Wilson.
“AGIG’s experience in delivering WA its largest gas storage facility will be very helpful for the project.
“After an extensive period of due diligence, the parties are highly confident of moving the proposals to full commercial outcomes.”
GB Energy CEO Tim Baldwin said the collaboration with AGIG helps position Golden Beach for the future.
“The project will provide Victoria with new domestic gas supply in the short-term. The overall investment in critical energy storage infrastructure will then provide a range of ongoing benefits to an evolving East Coast market,” he said.
AGIG is also working with GB Energy to be involved with the developing Golden Beach’s upstream infrastructure, a development which is estimated to cost approximately $145 million.
For more information visit the AGIG website.
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