Exmar: Caribbean FLNG commissioning starts

Belgium’s Exmar said on Thursday that commissioning work has started on its Caribbean FLNG at the Wison Heavy Industry shipyard in Nantong, China.

The commissioning of the Caribbean FLNG has started on 14th June with delivery expected in the third quarter of this year once the unit has been successfully performance-tested at the shipyard, Exmar said in its first-half results report.

“Several employment opportunities for the unit are currently under active discussions,” the company said.

To remind, Exmar and Pacific Exploration and Production (PEP) terminated their agreement executed in March 2012 for the deployment of the Caribbean FLNG in Colombia.

Once in operation, the Caribbean FLNG will be one of the world’ first floating liquefaction units, although considerably smaller than the Petronas’ PFLNG Satu and Shell’s giant Prelude FLNG.

LNG earnings rise

Exmar said in the results report its LNG business earned $24.6 million in the first half of this year, a rise of 55.7 percent as compared to the same period a year before.

This figure includes a payment by PEP as part of the termination fee as well as costs related to the commissioning of Caribbean FLNG, the company said.

The balance of the termination payment continues to be received on a monthly basis until June 2017, Exmar added.

LNG World News Staff