Epik Signs Watpac for Oz Import Terminal Work

South Korean LNG project developer Epik has executed an agreement with Australian construction company Watpac for design, engineering and construction services for the onshore infrastructure components of its Newcastle FSRU project at Port of Newcastle, it said April 3.

An undisclosed target EPC price has been included in the agreement with mechanisms to ensure project competitiveness, the company said. Further, Newcastle GasDock Company, a wholly-owned subsidiary of Epik, has been established in Australia to carry out the project.
 
Watpac will be supported by marine and engineering infrastructure consultant Mott MacDonald, Epik said.

In December last year, Epik entered into an agreement with Port of Newcastle in New South Wales (NSW) to commence preliminary works on a proposed FSRU. The project will be sited within the Port of Newcastle and will serve the NSW gas market. In February, Epik and Hyundai LNG Shipping signed an agreement to work together in the development of FSRU projects around the globe, including the NSW FSRU project.

Epik expects to place an order for the FSRU new-build with a shipyard subject to receiving regulatory approvals for the project, which the company currently estimates to receive by early-2020.