Macquarie Launches LNG Infrastructure Business

Macquarie Capital has set up a platform to build, own and operate LNG regasification, power and downstream infrastructure assets, the Australian investment bank said on February 23.

WaveCrest Energy will provide end-to-end project solutions, from early-stage development through to project financing, construction and commercial operation, as well as subsequent project expansions.

WaveCrest's "flexible capital, development and financing capabilities, technical and operational expertise and physical commodity solutions," mean it is "uniquely positioned to integrate activities across the LNG value chain," including gas supply, liquefaction, LNG supply, regasification, power generation and downstream services.

The company's initial focus will be serving Latin American and Asian markets, working to establish and expand demand for natural gas by increasing access to the fuel, which is both low-cost and cleaner than alternatives like coal and fuel oil.

WaveCrest is led by CEO Rob Bryngelson, the co-founder and former CEO of US floating LNG specialist Excelerate Energy, who has worked in the gas import business for over 20 years. Meanwhile, Macquarie Capital will provide its "deep energy infrastructure expertise and financing capabilities", while the wider Macquarie Group will leverage its assess to gas and LNG supply.

“Global energy demand growth, coupled with an increasing focus on climate change, positions natural gas as a key energy source in the transition to a low-carbon energy future,” Bryngelson said. “WaveCrest is designed to bring natural gas to underserved markets around the world through innovative and flexible LNG projects, delivering a cleaner fuel source for both existing and incremental needs.”

“We are excited to partner with a proven management team, with a track record of delivering innovative, industry-first solutions, to support global energy security and further enable the energy transition in developing markets around the world,” Macquarie Capital's senior managing director Nicholas Gole said. “Macquarie will lend its insights and capabilities across various aspects of energy infrastructure to help WaveCrest serve its customers and deliver on its goals.”