New customer contract to upgrade Marsden Point

channelnz.com

NZX RELEASE
1 May 2024

Channel signs new customer contract to upgrade Marsden Point infrastructure
Channel Infrastructure announces that it has entered into a new seven-year contract with its customers
regarding an upgrade to Channel’s Marsden Point infrastructure that will enable transmix
1
to be stored at
Marsden Point and exported (with two five-year rights of renewal, exercisable by customers on the same
terms, or otherwise extendable on terms as agreed by customers and Channel). The upgrade will involve
incremental growth capital expenditure across 2024 of $12-15 million in FY24 and is expected to generate
incremental revenue of approximately $3 million per annum, indexed to PPI.
Revenues from the new contract are anticipated to commence in late Q4 2024.
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Authorised by
Chris Bougen
General Counsel and Company Secretary
email: Chris.Bougen@channelnz.com

Contact details
Investor Relations contact:
Anna Bonney
Email: investorrelations@channelnz.com

Media contact
Laura Malcolm
email: communications@channelnz.com

About Channel Infrastructure
Channel Infrastructure’s vision is to be a world-class infrastructure company, delivering resilient infrastructure
solutions to help meet changing fuel and energy needs.
Channel Infrastructure’s assets are a critical part of the Northland and Auckland fuel supply chain, supporting the
delivery of around 40% of New Zealand’s transport fuel demand and all of the jet fuel to the Auckland International
Airport. Utilising the deep-water harbour and jetty infrastructure at Marsden Point, as well as 280 million litres of
storage tanks, and the 170-kilometre pipeline from Marsden Point to Auckland we receive, store, test and distribute
fuel owned by our customers. Channel Infrastructure’s wholly-owned subsidiary, Independent Petroleum Laboratory
Limited, provides fuel quality testing services at Marsden Point and around New Zealand.
Channel Infrastructure will seek to support New Zealand’s decarbonisation ambitions, by utilising our strategically-
located assets and our expertise in supply chain infrastructure. The Company remains focused on its future growth
opportunities at the Marsden Point site and beyond, including additional fuel storage to support fuel security and
studies underway with partners on hydrogen and sustainable aviation fuel opportunities.
For more information on Channel Infrastructure, please visit: www.channelnz.com

1
Transmix is a mix of petrol/jet/diesel product that results from operation of terminals and multi-product pipelines.