Exmar’s LNG numbers climb in first quarter

Belgium’s Exmar said on Friday its LNG business earned $13.3 million in the first quarter of this year, a rise of 49 percent as compared to the same period a year before.

The company’s net income of  $9.3 million was almost flat as compared to $9.4 million a year before, Exmar said in its statement.

According to Exmar, net income figures included a payment of $5 million received as part of the termination fee payable by Pacific Exploration and Production (PEP) on Caribbean FLNG.

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

According to Exmar, the commissioning of the Caribbean FLNG unit at Wison Heavy Industry in Nantong, China is scheduled to start in the coming weeks.

Exmar said it is in talks with several parties to deploy the FLNG barge on projects located mainly in the Middle East, South America and West Africa.



LNG World News Staff


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