Gas Supply and Storage
The Golden Beach Energy Storage Project is a strategically located gas storage project in Victoria, adjacent to the Longford Gas Hub. The Project will initially produce a limited amount of natural gas from the Golden Beach field in Bass Strait, before transitioning to an underground offshore gas storage facility.
Energy storage
The Storage Facility
The offshore storage facility will enable new gas to be injected at times of low gas demand (often in summer), and withdrawn again at times of higher demand (usually winter).
Having significant reserves of gas in storage and readily available on peak energy demand days, will help balance the market at times when the wind doesn’t blow and the sun doesn’t shine.
The Project is targeting first gas supply in 2028, before transitioning to a flexible storage facility in 2029.
Energy storage
We're in Transition
The Golden Beach Energy Storage Project will provide essential supply flexibility and dispatchable energy to an energy market in transition. The project is critical to south-east Australia's net zero objectives and addresses short and long-term projected gas supply shortfalls.
As our energy market transitions to include more renewables and coal-fired power stations exit the market, there are a number of advantages to being able to have deep reserves of gas in storage and available for use when needed:
Seasonality
- Historically, winter demand peaks have been met through increasing ‘swing’ production at existing facilities
- With ‘swing’ production in decline as mature fields in the Gippsland Basin are depleted and pipelines from the north are constrained, storage will be increasingly important to help manage seasonal variations in demand
Security
- Having gas in storage that can be called upon in the event of an unexpected disruption elsewhere in the system contributes to energy security and maintains market operability
- Gas in excess of current market demand could be stored as a strategic reserve
Flexibility
- Storage supports the energy transition by providing a flexible source of dispatchable energy
- It provides immediate energy during periods of peak electricity demand and renewable generation intermittency
Critical Infrastructure
- The project has been identified as critical infrastructure, capable of ultimately delivering up to 500 TJ per day of withdrawal capacity
- The Project will support other energy solutions (LNG imports, Queensland gas supply and in time biogas and hydrogen
Efficient Use of Capital
- The Project enables the optimisation of new sources of supply (LNG import terminals, new gas fields or pipelines).
Project timeline
Our Progress
GB Energy is very conscious of projected gas shortages in south-east Australia later this decade. We are on track for delivery of first gas by winter2028. Gas storage will follow an estimated 12 months later.
Upcoming operations
Upcoming operations
- The next key milestone for the Project is a Geophysical Investigation Program.
- This Program will assess the suitability of the seabed to support a jack-up drill rig and a pipeline. Geophysical investigations collect seabed and shallow geological information to inform the safe location of this infrastructure.
- The Geophysical Investigations will take place from the shoreline to approximately 2.7km offshore from the township of Golden Beach and take approximately 10-12 days to complete. Investigations are scheduled to commence in late 2025 / early 2026.
- Prior to the geophysical investigations commencing, GBE will submit an Environmental Plan (EP) for approval to the regulator within the Victorian Department of Energy, Environment and Climate Action (DEECA).
- The EP is a comprehensive document detailing the existing environment, potential impacts and risks of the activity, and describes how the Geophysical Investigation Program will be conducted to manage, minimise or avoid environmental risks to be ‘ALARP’ (As Low As Reasonably Practicable).
- All geophysical activities will be subject to industry best practice standards and will be undertaken in accordance with all applicable environmental and safety legislation and regulations.
- Following regulatory acceptance of the EP a Summary Environment Plan will be published on the DEECA and GB Energy websites.
- More information on this Program can be found here (LINK flyer).