Caribbean FLNG Still Without Work
- Business & Finance
Exmar’s newbuilding floating liquefied natural gas (FLNG) facility Carribean FLNG is yet to secure its first job.
The world’s first barge-based FLNG facility was delivered to Exmar by Chinese Wison Offshore and Marine in July this year.
The vessel was set to work for Canada-based oil and gas company Pacific Exploration and Production (PEP), however, the agreement between Exmar and PEP was terminated in March 2016.
“Several negotiations on the employment of the Caribbean FLNG are progressing in parallel. Awaiting
successful outcome of these, the unit remains at the yard and all measures for preservation of the onboard equipment have been taken,” Exmar said announcing its results for the third quarter of this year.
One of the potential destinations of the FLNG is Iran.
Namely, the company is in talks to deploy the unit for an Iranian export project. Under the plan, National Iranian Oil Company (NIOC) would hire the FLNG facility for a period of 20 years to produce gas from offshore oilfields near Kharg Island.
When approached by World Maritime News, Exmar did not want to comment as the project is still ongoing and has “not reached full and final approval yet.”
In the meantime, no income is expected from the Caribbean FLNG before the end of 2018, the company said.
Caribbean FLNG has a capacity to produce around 0.5 million tonnes of LNG per year.
Separately, Exmar said that the construction of the barge-based floating storage and regasification unit (FSRU) is substantially completed.
“Delivery will be taken as soon as the yard is ready and financing is in the documentation phase. The unit has been shortlisted for two LNG import terminals. If confirmed the start of operations is expected in mid-2018,” the company added.
World Maritime News Staff; Image & Video Courtesy: Exmar