Viva’s proposal involves an extension of the Geelong refinery’s...

Viva’s proposal involves an extension of the Geelong refinery’s jetty, a permanently moored floating “regasification” unit and a 7-kilometre pipeline connecting it to Victoria’s gas grid. The government says the terminal could supply approximately 88 per cent of the state’s gas needs.

Energy Minister Lily D’Ambrosio acknowledged Victorian energy prices were too high.

“Gas is part of our energy transition, but supply is dwindling and prices are going up,” she said. “That’s why we’re securing gas supply and helping families and businesses that can go electric to slash their energy bills, freeing up gas supply for industries that can’t make the switch.”

Regulators have been forecasting supply shortfalls in Victoria for several years, as dwindling local supplies and storage and capacity constraints from major gas hubs in the north risk the state running out of gas during winter demand peaks.

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Even the clowns in Victoria have thrown in the towel.