No deal on Exmar LNG

Belgium’s Exmar, Flex LNG and Geveran Trading, a John Fredriksen controlled company, have failed to agree on the creation of Exmar LNG, an LNG infrastructure joint venture.

“The parties have failed to agree on the terms. The previously announced transaction will not be completed,” Exmar said in a statement on Wednesday without providing more details.

The $2.3 billion move was announced by the companies in July where they agreed on the main terms for the transaction.

Exmar LNG would be “one of the largest independent floating LNG infrastructure players in the world, integrating liquefaction, shipping and regasification assets,” the statement said.

Under the deal, Exmar LNG was supposed to own interest in six LNG carriers, four of which are under construction and will feature MEGI propulsion systems.

The venture would also own interest in five FSRU’s, one of which is to become world’s first regasification barge and two FLNG’s, and respective time charter and exclusivity agreements.

LNG World News Staff; Image: Exmar