Vopak VPK has entered into an exclusive agreement with shipping firm Seapeak to provide a floating and regasification unit for its liquefied natural gas import terminal project in Australia, the Dutch tank storage firm said on Tuesday.

The agreement comes months after the energy storage operator entered into discussions with suppliers and offtakers for advancing the Port Philip Bay terminal in Victoria, Australia’s largest gas-consuming state.
Vopak’s Victorian energy terminal is one of four proposed across Australia’s southeastern states to meet domestic gas needs, as regulators warn there could be shortages as soon as 2027.

This step places the terminal in a strong position to provide energy certainty for Victoria from 2029, the company said.
Source: Reuters