A plan to secure Australia’s long-term fuel supplies has kicked off at Kooragang with construction to commence on one of the country’s first strategic diesel storage facilities.
The new 30 megalitre tank has been jointly funded by Park Fuels and the Commonwealth Government’s $260 million Boosting Australia’s Diesel Storage program, which aims to build around 780 megalitres of diesel storage across the country.
Park Fuels is an Australian owned and operated independent fuel importer and distributor with two terminals based at Port of Newcastle and Port Kembla.
Park Fuels CEO, Brett Fletcher, joined Federal Minister for Industry, Energy and Emissions Reduction, Angus Taylor, to turn the first soil on the new storage tank at their Port of Newcastle terminal on April 28.
“Today marks a significant milestone for Park Fuels and the future security of Australia’s fuel supplies,” Fletcher said.
“Diesel is the lifeblood of our heavy industries—it fuels our trucks, mines and farms.
“So, by investing in strategic storage facilities like this one, we are helping to safeguard domestic supplies during peak periods and emergencies while also keeping costs down for consumers.”
Fletcher said the new tank, built on the grounds of their Port of Newcastle terminal, would increase their diesel storage capability from 54 megalitres to 84 megalitres.
“We are proud to deliver a project that will double our workforce during the construction phase and increase our existing team by 10 per cent upon completion,” Fletcher said.
“This will ensure Australian families and industries have continual access to the fuel they need when they need it.”
Port of Newcastle CEO, Craig Carmody, said the new facility would play an important role in strengthening Australia’s fuel security by increasing the volume of diesel stock that could be kept onshore.
“Fuel imports have grown significantly over the past decade and now account for the Port of Newcastle’s second-largest trade, increasing demand from agriculture and mining, general industry and domestic users,” Carmody said.
“As operators of one of the Port of Newcastle’s three bulk liquid import terminals, we congratulate Park Fuels on reaching this significant milestone.
“The investment that Park Fuels and the Government are making is recognising the role the Hunter and Port of Newcastle play in keeping Australia’s economy running.”
Carmody said it would not only increase their local fuel storage capabilities but also create jobs and increase fuel trade, which would have a flow-on effect for the entire region.
Construction is expected to be completed mid next year, with the new strategic storage tank operational by late 2023.
Hayley McMahon