Australian gas storage project enters administration

Argus Media · Argus Media · 2026-11-06 03:10 UTC

The owner of the Golden Beach gas and storage project, located in Victoria state's offshore Gippsland basin has been placed into voluntary administration in a blow to the 19PJ (507mn m³) development's future.

The owner of the Golden Beach gas and storage project, located in Victoria state's offshore Gippsland basin has been placed into voluntary administration in a blow to the 19PJ (507mn m³) development's future.

Golden Beach Energy was impacted by delays to project's timetable and a significant escalation in costs, Australian utility and offtake partner Origin Energy said on 6 November, leaving the developer without sufficient funding to reach a final investment decision.

Origin is a secured creditor of Golden Beach Energy and has appointed FTI Consulting as receivers and managers to work with administrator McGrathNicol and other stakeholders to determine appropriate next steps, a spokeswoman for Origin said, including potential avenues for additional funding.

Read the full story at Argus Media · All coverage of this story