GB Energy

What GB Energy does

GB Energy is an Australian energy infrastructure company developing the Golden Beach Energy Storage Project, an offshore underground gas storage facility located approximately 3-4 km off Golden Beach in the Gippsland Basin, Victoria. The project is designed to inject natural gas into subsurface geological formations during periods of low demand (typically summer) and withdraw gas during periods of high demand (typically winter), providing seasonal long-duration storage that cannot be matched by battery alternatives at this scale. Phase one targets approximately 19PJ+ of storage capacity and up to 375 TJ/day of withdrawal capacity, with expansion capacity in subsequent phases toward 500 TJ/day. The facility connects directly into the Victorian Transmission System and Eastern Gas Pipeline via twin 18-inch subsea pipelines, using horizontal directional drilling for the shore crossing to minimize coastal impact. The project's strategic position adjacent to the Longford Gas Hub, Victoria's principal gas supply hub, gives it direct access to the east coast Australian energy market managed by AEMO.

The company is pre-revenue and pre-construction: first gas production is targeted for winter 2028, transitioning to full storage operations by 2029, following an offshore drilling campaign planned for late 2026 and onshore/offshore construction from 2027. GB Energy's revenue model is usage-based: storage services that arbitrage summer-to-winter price differentials, security of supply contracts, and dispatchable energy sales during peak demand or renewable intermittency events. The company has secured federal and Victorian environmental approvals (EES and EPBC Act), a Compressor Station Development Licence, and an AU$32 million Australian Government loan, and has been classified as critical energy infrastructure by the Commonwealth.

The company is an unlisted private entity (GB Energy Holdings Limited, ABN 60 615 552 693) headquartered at Level 4, 90 Collins Street, Melbourne, with 51-100 employees and a board and management team drawn from Origin Energy, APLNG, BP, Carlyle Group, Goldman Sachs, JPMorgan, and GE Energy Financial Services. It serves B2B counterparties in the east coast Australian gas and electricity market, with no public customers disclosed.

Name

GB Energy

Legal name

GB Energy Holdings Limited

Website

https://gbenergy.com.au

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

51–100 employees

Short description

GB Energy is a private Australian energy infrastructure company developing the Golden Beach Energy Storage Project, an offshore underground gas storage facility in the Gippsland Basin, Victoria, targeting first gas in 2028 and storage operations in 2029 to serve the east coast Australian energy market via the Longford Gas Hub.

Ownership category

akta.pro rank

Product category

Natural Gas Storage Infrastructure

NAICS

Natural Gas Distribution (22121)

SIC

Natural Gas Transmisison & Distribution (4923)

akta.pro primary industry

Geologic & Underground Energy Storage (CAES Caverns, Hydrogen Caverns, Reservoir-Based) (EUAFADAF)

akta.pro secondary industry

Depleted Oil & Gas Reservoir Storage (Conversion, Re-pressurization, Monitoring) (EUABAHAH)

Keywords

• Gas storage infrastructure
• Underground gas storage
• Energy storage services
• Natural gas supply
• Offshore gas facilities

Headquarters

HQ city

Melbourne

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Technology or R&D, Supply Chain, Marketing or Sales

Revenue model

1. Gas Storage Services: The company generates revenue by providing gas storage services - injecting gas during periods of low demand (typically summer months) and withdrawing/producing gas during periods of high demand (typically winter). This arbitrage between low and high demand periods provides revenue. Additionally, the facility offers security of supply services and supports renewable energy integration by providing dispatchable energy.

Distribution channels1 record

Marketing channels4 records

Core offering

GB Energy is developing the Golden Beach Energy Storage Project in Gippsland, Victoria — an offshore gas storage facility located adjacent to the Longford Gas Hub. The project will inject natural gas into an offshore reservoir during periods of low demand (summer) and withdraw gas during periods of peak demand (winter), providing approximately 19 PJ of storage capacity and up to 375 TJ per day of withdrawal capacity. The facility supplies critical gas storage and dispatchable energy infrastructure for Australia's east coast energy market, targeting first gas production in winter 2028 and full storage operations by 2029.

Product overview

GB Energy operates as a single-product company focused on the Golden Beach Energy Storage Project. The project is an offshore gas storage facility in Victoria, Australia, designed to balance supply and demand in the eastern Australian energy market by storing gas during low-demand periods (summer) and releasing it during high-demand periods (winter). The project targets first gas production in winter 2028 and transitions to storage operations by 2029, with capacity of approximately 19 PJ in its first phase.

Differentiator

Problem solved

Functional benefit

Products and services

• Golden Beach Energy Storage Project An offshore gas supply and energy storage project in Gippsland, Victoria, strategically located adjacent to the Longford Gas Hub. It enables natural gas injection during low-demand periods and withdrawal during peak-demand periods, delivering up to 375 TJ/day of dispatchable energy and approximately 19 PJ of storage capacity in the first phase for the east coast Australian energy market.

Quantifiable outcome

• Addresses projected gas supply shortfalls in southeastern Australia later in the decade
• +3 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Uniper: European energy company with substantial underground gas storage operations in Germany and the UK. Comparable as a merchant underground-storage operator providing seasonal flexibility and security of supply.
• Snam: Italian gas system operator that owns and operates one of Europe's largest underground gas storage portfolios alongside its transmission network. Functionally similar as an integrated transmission-and-storage operator.
• APA Group: Australia's largest natural gas infrastructure business, owning and operating gas transmission, distribution, and storage assets across the east-coast market. Directly comparable as the incumbent operator of the pipeline network that Golden Beach will connect into at Longford.
• Storengy: Engie subsidiary and Europe's leading underground gas storage operator, managing depleted-reservoir and salt-cavern storage sites. Closest functional analogue to GB Energy's depleted-reservoir storage model.
• Enagás: Spanish gas system operator with underground storage assets (including depleted reservoirs) tied to its transmission grid. Directly comparable as a regulated storage-plus-transmission infrastructure operator.

Broad incumbents

• Origin Energy: Australian integrated energy company with significant gas production, APLNG exposure, and gas-fired generation. Multiple Origin alumni on GB Energy's board indicate deep operational and commercial overlap with the east-coast gas value chain.
• Woodside Energy: Australia's largest independent oil and gas producer with extensive offshore operating experience in the Gippsland/Bass Basin region. Comparable as a broad incumbent operating offshore gas infrastructure proximate to GB Energy's site.
• Santos: Major Australian oil and gas producer with east-coast gas operations and a pipeline/storage portfolio. Overlaps with GB Energy in serving south-east Australian gas demand and operating in the same regulatory environment.

Emerging players

• Alinta Energy: Australian gas-powered generation and retail energy business with merchant gas storage interests. CCO Peter Fennessy's prior role at Alinta reinforces the comparability as a customer-side counterparty for storage services.
• Viva Energy: Operator of the Geelong LNG import terminal and downstream fuel infrastructure in Victoria. Comparable as a participant in the same south-east Australian gas-supply ecosystem, with potential overlap as both competitor and customer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInau.linkedin.com/company/gb-energy-holdings-limited

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about GB Energy