Exmar, PRE order second FLNG unit

February 6, 2014

Belgium's Exmar and Canada's Pacific Rubiales Energy (PRE), through its wholly-owned affiliate Pacific Midstream Holding, announced the ordering of a barge-based floating LNG regasification unit under a 50/50 joint venture.

The unit will be constructed by Wison Offshore & Marine at its shipyard in Nantong, China.

Delivery is anticipated 4Q 2015. Negotiations for a long-term charter are ongoing and an award is expected by mid-2014.

 “We are honored to place this order together with our partner PRE, with whom we have already developed the floating LNG liquefaction and storage unit Caribbean FLNG, that is currently under construction," Nicolas Saverys, CEO of Exmar, said. "We strongly believe this innovative and flexible barge-based regasification concept will further increase the competitiveness of LNG compared to other energy types. By adding a floating storage unit we can customize the storage size and overall availability to specific project requirements."

“With this order for a next generation floating regasification solution, PRE and EXMAR are well positioned to serve the LNG global markets," Ronald Pantin, CEO of PRE said.



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