Golden Beach, a large gas project in Victoria, has entered insolvency
proceedings after delays and major cost overruns left it underfunded, stoking
concern about an east‑coast gas supply shortfall. Victoria approved the project
last month; developers had planned first gas in 2028 and the start of
gas‑storage operations in 2029, which was forecast to raise Victoria’s gas
storage capacity by about 70%. The project targeted c.500 TJ/day of production
capacity—over half of Victoria’s peak daily gas demand in the 12 months to June
2026.
