EPIK tags ANZ as financial adviser for Newcastle GasDock LNG terminal

EPIK tags ANZ as financial adviser for Newcastle GasDock LNG terminalPort of Newcastle; Image courtesy of EPIK

EPIK, a South Korea-based LNG project development company, has appointed Australia and New Zealand Banking Group Limited (ANZ) to serve as a financial adviser for its Newcastle GasDock LNG import terminal.

ANZ will provide debt and equity advisory services for EPIK’s FSRU project at the Port of Newcastle in New South Wales (NSW) in the lead up to a final investment decision (FID), anticipated in mid-2020, EPIK said in its statement on Wednesday.

In August, the government of New South Wales declared EPIK’s Newcastle GasDock LNG import terminal project as Critical State Significant Infrastructure (CSSI), recognizing the project for its vital role in providing long-term energy and gas security to the region.

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

He added that the company is confident that with ANZ’s assistance it will be able to secure optimal capital resources for the project.

NSW currently relies on interstate imports for approximately 95 percent of its gas supply and recent changes in the domestic market have resulted in significant market volatility and price increases, negatively impacting industry and households across the State.

As proposed, the Newcastle GasDock terminal will be capable of supplying more than 80 percent 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 advisers and consultants, including environmental and planning support from Arup, engineering, design and construction services from Australian EPC firm, Watpac, as well as legal and regulatory counsel from K&L Gates, among others.

Share this article

Follow LNG World News

Events>

<< Nov 2019 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

2nd Global LNG Forum

Global LNG Forum is an exclusive networking and knowledge-sharing platform for top experts and business leaders in the industry.

read more >

Budapest LNG Summit 2019

The Budapest LNG Summit is a niche event focused on the up and coming LNG region of Central & Eastern Europe (CEE).

read more >

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – Singapore / Jan 2019

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools needed to:…

read more >