Exmar, Vopak Drop FSRU Acquisition Plans
- Business & Finance
Antwerp-based operator of Floating Storage Regasification Units (FSRU) Exmar said that its deal with tank storage provider Royal Vopak on the acquisition of Exmar’s participation in FSRU assets has been cancelled.
The conditional agreement was reached on 21 December 2016. However, the finalization of the deal was subject to consent and cooperation of multiple stakeholders.
Under the acquisition deal, Exmar’s participation in FSRU assets, FSRU projects under development and a corresponding part of the Exmar organisation would have been transferred in stages.
“After careful consideration, Exmar and VOPAK have concluded that these requirements will not be met on the envisaged transaction. Therefore the closing of the FRSU transaction between Exmar and VOPAK will no longer be pursued,” a joint press statement reads.
Exmar, which is the co-owner and or operator of 10 FSRUs, has one FSRU and one FLNG facility under construction.