The Government of New South Wales has declared EPIK Co. Ltd’s Newcastle GasDock liquefied natural gas (LNG) import terminal project as a Critical State Significant Infrastructure (CSSI).
The Newcastle GasDock terminal is being developed to deliver the most competitive infrastructure solution for natural gas imports into NSW and will be located at the Port of Newcastle – an industrial hub home to the state’s largest gas and power users and a gateway to the broader New South Wales and southeast Australian gas markets.
The Newcastle GasDock project – with an estimated direct onshore investment of up to AUD$250M – involves deploying an LNG Floating Storage and Regasification Unit (FSRU), a vessel designed to safely store the liquefied product and then convert it into a useable gas for industrial, commercial and residential customers in NSW.
It is forecast to be capable of supplying more than 80 per cent of NSW’s current gas demand, with the potential to increase throughput as demand requires.
The Newcastle GasDock will incorporate a 170,000 cubic metre class FSRU which will connect to a new jetty planned to be built on port land at Kooragang Island, enabling a connection to the existing East Coast natural gas network.
The CSSI recognises the project for its crucial role in the long-term economic future of the region and represents a major milestone for the project.
Port of Newcastle CEO, Craig Carmody said it is a critical future-proofing project for the region.
“Projects such as the EPIK Newcastle GasDock project open a number of new trade opportunities, develop capability and support businesses and jobs across the Hunter Region and around New South Wales,” he said.
EPIK’s Founder and Managing Director, Jee Yoon, said with CSSI status in hand, they are a considerable step closer to delivering the critical infrastructure needed to bring new energy to NSW.