Exmar, Pacific Rubiales Order Floating LNG Regasification Unit

Exmar and Pacific Rubiales Energy (PRE), through its fully own 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 of the unit is anticipated in the fourth quarter of 2015. Negotiations for a long term charter are ongoing and an award is expected by mid-2014.

Nicolas Saverys, CEO of Exmar stated: “We are honoured 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. 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.”

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

Press Release, February 7, 2014; Image: Exmar