Challenger Capital Group Selected As Financial Advisor for $13 - $20 Billion Natural Gas Infrastructure Project
Posted on: Monday, 24 October 2005, 09:00 CDT
DALLAS, Oct. 24 /PRNewswire/ -- Challenger Capital Group, Ltd., a Dallas- based full-service investment bank, along with Credit Suisse First Boston and UBS investment banks, has been selected to serve as financial advisors for the State of Alaska's participation in the construction of a natural gas pipeline from Alaska's North Slope to either existing pipelines in Alberta, Canada, for further distribution into Central U.S. markets, or to Valdez, Alaska, for liquefaction and shipment via tanker to the Western United States.
Advisory services will include collaboration with other State advisors in developing recommendations on structuring and funding State equity participation in, as well as analysis of overall project financing of, the construction of a stranded gas pipeline to transport natural gas from Alaska's North Slope to end use markets. The assignment may also include providing assistance to the State in comparative financial analysis of certain aspects of the pipeline development proposals.
The cost of the project is estimated to be between $13 billion and $20 billion, and will bring to market proven natural gas reserves of 30 trillion cubic feet and additional probable reserves estimated at 100 trillion cubic feet. Upon completion, this project will represent one of the largest pipeline undertakings in the world.
"We are pleased to be a part of this well-respected finance team, and we are confident that we can exceed the State of Alaska's high expectations for strategic counsel," said Chuck Davis, managing director of Challenger. Davis, who will be leading the team for Challenger, has extensive experience in energy investment banking in general and natural gas pipelines in particular.
Challenger and the other two investment banks have been hired for a two- year engagement to act on behalf of the State of Alaska.
Challenger, with offices in Dallas and Chicago, has filled the void created by sweeping consolidation in the investment banking sector by assembling an exceptional staff of professionals with a transaction resume that spans more than 400 transactions and represents over $246 billion in aggregate transaction value. Challenger's industry expertise includes transactions in the consumer products, energy, entertainment, food service, healthcare, industrial products, media, natural gas, oilfield service, publishing, retail and telecom sectors. For additional information regarding Challenger, please visit http://www.challengercapitalgroup.com/ .
Challenger Capital Group, Ltd.
CONTACT: Peggy Bureau, Director of Communications of Challenger CapitalGroup, Ltd., +1-214-239-8608, or pbureau@challengercap.com ; or ElizabethBrowne of Michael & Partners, +1-972-716-0500, ext. 26, orebrowne@michaelpartners.com , for Challenger Capital Group, Ltd.
Web site: http://www.challengercapitalgroup.com/
Source: PRNewswire
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