EPIK appoints ANZ as financial adviser for LNG import terminal

According to the statement, ANZ will provide debt and equity advisory services for EPIK’s flagship floating storage and regasification unit (FSRU) project at the Port of Newcastle in New South Wales (NSW), Australia, in the lead up to a final investment decision (FID), anticipated in mid-2020.

Ian Wainwright, ANZ Executive Director, said: “We are pleased to be partnering with EPIK as financial adviser in the development of this critical infrastructure project, which is uniquely positioned to provide competitive gas supply to the region.”

In August, the Newcastle GasDock LNG import terminal project was declared by the Government of New South Wales as Critical State Significant Infrastructure (CSSI). This recognises the project for its crucial role in providing long-term energy and gas security to the region.

Jee Yoon, EPIK’s Managing Director, said: “ANZ adds tremendous financial and advisory expertise to the Newcastle GasDock project as we continue to make significant commercial and regulatory progress.

“We have confidence that with ANZ’s assistance we will be able to secure optimal capital resources for the project, allowing us to provide the most competitive supply to the region.”

According to the statement, NSW currently depends on interstate imports for approximately 95% of its gas supply, and recent changes in the domestic market have lead to significant market volatility and price increases, negatively affecting industry and households across the state. As proposed, EPIK claims the Newcastle GasDock terminal will be capable of supplying over 80% of NSW’s current gas demand, with the potential to increase throughput as demand requires.

In addition to EPIK’s recent engagement with ANZ, the Newcastle GasDock project is supported by leading advisers and consultants, including environmental and planning support from Arup, engineering, design and construction services from Watpac, as well as legal and regulatory counsel from K&L Gates, among others.

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/06112019/epik-appoints-anz-as-financial-adviser-for-lng-import-terminal/