Victoria approved production licensing for GB Energy’s Golden Beach gas project, with production scheduled for 2028 and storage for 2029.

Victoria approved a production license for Golden Beach, a project of GB Energy Pty Ltd in Australia. The report’s body values the project at A$1 billion, equivalent to US$700 million; its headline uses an inconsistent amount, so the detailed body figure is the basis here.

According to the government announcement as relayed by the source, gas production is scheduled to begin in 2028, with storage facilities entering service one year later, in 2029. The project is expected to increase Victoria’s gas-storage capacity by approximately 70%, rather than increase its gas production by that percentage.

The approval is reported in the context of a forecast domestic gas-supply shortfall on Australia’s east coast toward the end of the decade. The source describes gas as backup for periods of insufficient wind and solar output, but identifies no dedicated data-center customer or AI-compute supply contract.