Newcastle to play critical role in boosting Australia’s fuel security

Newcastle to play critical role in boosting Australia’s fuel security

The Port of Newcastle and the Newcastle and Hunter communities are the main winners from the Federal Government’s announcement of a $260 million package to boost long term fuel security across the country.

Port of Newcastle’s CEO Craig Carmody said the Port welcomed the announcement and was thrilled to be able to expand Australia’s diesel storage capacity and support its long-term fuel security.

“The Hunter region received the largest allocation of the grant pool, with two grants awarded to Stotlhaven and Park Fuels, which will support investment in the expansion of the Port of Newcastle’s dedicated bulk liquids facilities, create 130 local jobs during construction and help keep fuel prices low for consumers,” Craig said.

“This announcement is a vote of confidence in the fuel storage capability of the region and recognises the important role the Port of Newcastle plays in supporting the economic performance of NSW and Australia.”

The Port of Newcastle CEO said the Federal investment is further proof in the value Port of Newcastle’s resources offer in keeping Australia’s economy running.

“The package will enable critical infrastructure investment at the Port of Newcastle to support the expansion of diesel, petrol and aviation jet fuel reserves at the Port’s dedicated bulk-liquids facilities operated by Stolthaven and Park Fuels.”

It will see tankage capacity across the Port’s three bulk fuel terminals grow from 266 Megalitres to 624 Megalitres at the completion of the construction phase.

“The awarding of these funding packages to these Port of Newcastle based companies is another critical step forward in diversifying trade to create a safe, sustainable and environmentally and socially responsible port for generations to come,” Craig said.

The grants will cover up to 50 per cent of total eligible project expenditure with projects expected to commence construction from mid-2021 and be completed within three years.

Port of Newcastle has three bulk liquid import terminals, Stolthaven, Park Fuels and ATOM (Australian Terminals Operations Management).

Stolthaven and ATOM operate dedicated bulk-fuels terminals at Mayfield 7 and Dyke 1 berths respectively, whilst Park Fuels operates from Port of Newcastle’s Bulk Precinct at Walsh Point.

“The awarding of these funding packages to these Port of Newcastle based companies is another critical step forward in diversifying trade to create a safe, sustainable and environmentally and socially responsible port for generations to come,” Craig said.

The Boosting Australia’s Diesel Storage program is a key part of the Government’s comprehensive fuel security package, announced in the 2020-21 Budget, to secure Australia’s long-term fuel supply by increasing onshore stockholdings and our sovereign refining capability that meets our needs during an emergency and into the future.

Port of Newcastle

Port of Newcastle is a major Australian trade gateway handling 4,600 ship movements and 166 million tonnes of cargo each year. Its annual trade worth more than $29 billion to the New South Wales economy, enabling businesses across the state to successfully compete in international markets.

With a deepwater shipping channel operating at 50% of its capacity, significant port land available and enviable access to national rail and road infrastructure, Port of Newcastle is positioned to further underpin the prosperity of the Hunter, NSW and Australia.

As custodians of the region’s critical asset, Port of Newcastle is diversifying its trade as it strives to create a safe, sustainable and environmentally and socially responsible Port that realises its potential.  

 

Trending Articles

Advertise with us

Affordable and engaging advertising to a business community

Submit an article

Tell your story to the Hunter business community

Does your business need a little help with its marketing?

Marketing strategies

This website uses cookies
We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you’ve provided to them or that they’ve collected from your use of their services.