Egan was treasurer of NSW for a record term from 1995 to 2005 and is currently chancellor of Macquarie University, chairman of the Centenary Institute of Cancer Medicine and Cell Biology, the Australian Fisheries Management Authority Commission and the Australia Day Council of NSW.

He was also state development minister, energy minister, leader of the government in the Legislative Council and acting premier on a number of occasions.

Outgoing chairman Tony Galligan – who has held that position since 2007 – will remain on the board representing Whitehaven Coal.

Galligan said Michael Egan would bring a wealth experience to the board and the challenges of retaining the Port of Newcastle’s mantle as the world’s biggest coal exporter.

“As the longest-serving Treasurer in our state’s history, Michael Egan has an unrivalled perspective on the importance of enabling infrastructure like NCIG to the future prosperity of New South Wales,” Galligan said.

On an inspection of the NCIG coal terminal’s stage one last week, the new chairman said he was impressed with the scale and technical sophistication of the facility.

First coal was shipped from the new coal terminal in March this year.