The North–South Pipeline, also known as the Sugarloaf Pipeline, is a water pipeline in Central Victoria, Australia, northeast of Melbourne that is part of Victoria's water system, acting as a link between Melbourne's water grid and the Murray-Goulburn water grid, supplying water via a series of existing and proposed pipelines. The 70-kilometre pipeline was connected to Melbourne in February 2010 to carry water from the Goulburn River to Melbourne's Sugarloaf Reservoir. It is the government's policy that it only be used in times of critical human need: when Melbourne's total water storages are less than 30% full on 30 November of any year. The pipeline can transfer a portion of Lake Eildon's water that is set aside for Melbourne, called the critical water reserve. This was 38,400 megalitres at 2 June 2014, and any changes are based on Goulburn-Murray Water's advice.

The Goulburn River, a major inland perennial river of the Goulburn Broken catchment, part of the Murray-Darling basin, is located in the Alpine, Northern Country/North Central, and Southern Riverina regions of the Australian state of Victoria. The headwaters of the Goulburn River rise in the western end of the Victorian Alps, below the peak of Corn Hill before descending to flow into the Murray River near Echuca, making it the longest river in Victoria at 654 kilometres (406 mi). The river is impounded by the Eildon Dam to create Lake Eildon, the Eildon Pondage, the Goulburn Weir and Waranga Basin.