Viva Energy’s LNG Terminal in Geelong Receives Green Light

The latest announcement is out from Viva Energy Group Ltd. ( (AU:VEA) ).

Viva Energy Group Ltd. has received a positive environmental assessment from the Victorian Government for its proposed LNG terminal in Geelong, allowing the project to proceed with conditions. This development is crucial for ensuring a secure gas supply to the south-east market and represents a significant growth opportunity for Viva Energy, leveraging its strategic position in Geelong. The project is now moving towards the Final Investment Decision, contingent on securing financial and commercial arrangements, with first gas delivery targeted for winter 2028.

The most recent analyst rating on (AU:VEA) stock is a Buy with a A$3.65 price target. To see the full list of analyst forecasts on Viva Energy Group Ltd. stock, see the AU:VEA Stock Forecast page.

More about Viva Energy Group Ltd.

Viva Energy (ASX: VEA) is a prominent convenience retailer and energy infrastructure business in Australia, with a history of over 120 years. The company operates a network of nearly 1,500 service stations, including almost 900 retail convenience and fuel stores. It owns the Geelong Refinery in Victoria and has operations in bulk fuels, aviation, bitumen, marine, chemicals, polymers, and lubricants, supported by over 20 terminals and 79 airports and airfields across the country.

Average Trading Volume: 5,651,568

Technical Sentiment Signal: Sell

Current Market Cap: A$3.06B

For an in-depth examination of VEA stock, go to TipRanks’ Stock Analysis page.