Marsden Point Energy Precinct projects update

NZX RELEASE
16 December 2025

Marsden Point Energy Precinct projects update
Channel Infrastructure NZ Limited (NZX:CHI), New Zealand’s largest fuel import terminal
business, today provides an update on the progress of several projects within the Marsden Point
Energy Precinct.

Biorefinery project
Seadra Energy is partnering with consortium members Qantas, Renova Inc, Kent Plc, and ANZ
on a potential biorefinery project at Channel’s Marsden Point site, which remains on track for a
final investment decision in 2026.

The consortium is in the process of market sounding with international project financiers and
export credit agencies and intends to launch its debt raising process with the expected issuance
of a Preliminary Information Memorandum for debt providers in early 2026.

Work continues on completing the plant configuration and updating the Front-End Engineering
and Design (FEED) study for the Marsden Point location including how existing infrastructure
would be reused at Marsden Point. The consortium and Channel continue to work through the
consenting requirements. Key terms for feedstock supply and product offtake have been
documented via Heads of Agreement and are progressing to final form.

Diesel peaker project
In November, Channel completed FEED for the proposed diesel-powered electricity peaking plant
which is designed to provide up to 72MW of fast-start peaking capacity from fuel already stored
within Channel’s import terminal system. Channel is currently engaging with electricity market
participants in respect of a potential long-term capacity contract arrangement and assessing
consenting requirements for the project. The project will only proceed with a long-term contract.

The diesel peaker is expected to provide valuable reliability services (capacity and energy) to the
electricity market, and support the significant expansion of renewable electricity generation
projects currently underway across New Zealand by providing fast-start firming during long-
duration cold, dry and windless periods, thereby moving New Zealand closer to its goal of
abundant and affordable renewable electricity supply.

More broadly, Channel continues to engage with a wide range of parties in relation to short,
medium and long-term opportunities within the Marsden Point Energy Precinct and will provide
updates as these opportunities mature and evolve.

- ENDS –

Authorised by:

Chris Bougen
General Counsel and Company Secretary

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

Media contact:
Laura Malcolm
communications@channelnz.com


About Channel Infrastructure
Channel Infrastructure is New Zealand’s largest fuel import terminal, storing and distributing 40%
of New Zealand’s transport fuel, including 80% of New Zealand’s jet fuel. We receive, store, test
and distribute petrol, diesel, and jet fuel that our customers import and supply to Auckland and
Northland.
Fuel is imported via our deep-water harbour and jetty infrastructure at Marsden Point and stored
in more than 290 million litres of contracted storage tanks on site. The fuel is then distributed via
our 170- kilometre pipeline to Auckland, or by our customers (bp, Mobil, and Z Energy) via truck
into Northland. We underpin the resilience of New Zealand’s fuel supply chain with our tank
capacity, which enables increased storage of fuel in New Zealand, and through efficient, low-
emission distribution of the fuel into the Auckland market. Given our proximity to Auckland, and
critical role in the jet fuel supply chain, Channel is well positioned to support the renewable fuel
transition in New Zealand.
Our plan for growth includes supporting fuel resilience for New Zealand through additional fuel
storage on our site, unlocking the strategic value of the Marsden Point Energy Precinct Concept
which reflects the significant role Channel could play in supporting New Zealand’s energy
transition – through potential opportunities including supporting the manufacture of lower-carbon
future fuels, as well as a range of potential energy security opportunities, and exploring expansion
beyond Marsden Point through the acquisition of other terminals infrastructure.
Channel Infrastructure also owns a 25% interest in the Somerton jet fuel pipeline to Melbourne
Airport and its wholly-owned subsidiary, Independent Petroleum Laboratory Limited, provides fuel
quality testing services throughout New Zealand.
For more information on Channel Infrastructure, please visit: www.channelnz.com