EPIK Selects Financial Adviser for Newcastle FSRU Project
- Business & Finance
LNG project development company EPIK has chosen Australia and New Zealand Banking Group Limited (ANZ) to serve as financial adviser for its Newcastle GasDock LNG import terminal.
ANZ will provide debt and equity advisory services for EPIK’s flagship 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.
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,” Jee Yoon, EPIK’s Managing Director, said.
“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.”
The proposed Newcastle GasDock terminal will be capable of supplying more than 80% of NSW’s current gas demand, with the potential to increase throughput as demand requires.