Gas Supply and Storage
The Golden Beach Energy Storage Project is an offshore gas storage project in Gippsland, Victoria, strategically located close 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The offshore storage facility will enable new gas to be injected at times of low gas demand (often in summer), and withdrawn again at times of higher demand (usually winter).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 targeting delivery of first gas by late 2028. Gas storage will follow in 2029.
Upcoming Operations
Upcoming Operations
Offshore drilling
- GB Energy is planning to commence a gas drilling campaign in late 2026.
- The drilling activity will be just over 4km offshore from the township of Golden Beach, in water depth of approximately 20 meters
- The drilling activities will be conducted 24 hours a day, 7 days a week. They will take around 140 days to complete.
- The drilling rig will operate in accordance with international safety & environmental standards and will have an approved Safety Case and Environmental Plan.
- Before the drilling rig departs, each well will be fully tested. This will involve controlled flaring, where gas is safely burned off in intermittent periods at varying rates. During testing, the flare may be bright and produce some noise, which is normal and expected. The total period of flaring is not expected to exceed 24 hours of cumulative flaring for each of the three wells.
- A 500-metre Petroleum Safety Zone (PSZ) will be established around the drilling rig in line with Australian offshore safety regulations
- Details about the rig’s location and timing will be shared through official channels, including Notices to Mariners issued by the Australian Hydrographic Office and AUSCOAST warnings from the Australian Maritime Safety Authority. These notices help inform other marine users about temporary changes or restrictions in the area.
- Closer to the start of drilling, GB Energy will provide further information about the timing of operations and support vessel movements to relevant fishing industry bodies to help ensure clear communication and coordination with local fishers.
More information about our Offshore Drilling activities can be found here.
Environmental Approvals
Key Approvals Granted
The Project has the support of both The Environment Effects Act 1978 (Vic) and The Environment Protection and Biodiversity Conservation Act 1999.
The Victorian Minister for Planning has determined that the Environment Effects Statement (EES) by GB Energy is appropriate and supports the development of the project. The EES process is a significant undertaking and underpins the development of the Project according to environmental parameters and processes. The Project has been classified as critical energy infrastructure by the Australian Government and is expected to support the market and the transition to large scale renewable generation.
In parallel with the EES process, the Commonwealth Department of Environment and Energy has approved the project under the Environment Protection and Biodiversity Conservation Act. This underpins the environmental significance of the Project.