An affiliate of Australian investment bank Macquarie Group Ltd. has launched a company to develop and operate liquefied natural gas (LNG) infrastructure projects.
WaveCrest Energy LLC would develop, construct, operate and own LNG regasification, power and downstream infrastructure assets.
The company initially would primarily serve Latin American and Asian markets to establish and develop demand for natural gas. The company plans to work to reduce direct emissions in these areas by improving access to the relatively low-carbon emitting fuel.
“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,” said WaveCrest CEO Rob Bryngelson. “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.”
Bryngelson has more than 20 years of experience in developing new markets for natural gas imports. He was a co-founder of the pioneer for floating LNG storage and regasification units, Excelerate Energy.
With Bryngelson’s experience and Macquarie ’s financial capabilities and access to natural gas and LNG supply, WaveCrest is capable of integrating activities across the LNG value chain into underserved markets, Macquarie said.
Macquarie currently oversees more than $25 billion in infrastructure projects under construction or development.
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