Exmar agrees to sell FSRU business to Vopak

Belgium’s Exmar has agreed to sell its FSRU business to Vopak, as well as to cooperate with the Dutch terminal operator on future projects.

The FSRU business acquisition agreement resulted from talks that started in September, between the two companies.

According to Exmar’s statement, the agreement on the acquisition envisages the transfer in stages of its participation in FSRU assets, FSRU projects under development and a corresponding part of the company’s organization.

The finalization of the deal is subject to consent and cooperation of multiple stakeholders, including current partners in the FSRU’s and customary approval from authorities. Subsequently, the ultimate scope of the transaction is dependent on the outcome of this process.

Exmar has not disclosed further details of the transaction since the scope and the timing of the completion of the deal are still unknown.