EXMAR has signed an agreement with the IFC (the WorldBank Group) and China EXPORT-IMPORT Bank for a financing facility of up to USD 280 million for its liquefaction barge to be built at Wison Heavy Industries and chartered to Pacific Rubiales Energy (TSX:PRE).
EXMAR has been co-developing with PRE a 72 mmscfd (Million standard cubic feet per day) (0.5 MTPA – metric tons per annum) floating liquefaction and a 400 mmscfd (3.1 MTPA) regasification project whereby affiliates of EXMAR will design, operate and maintain the liquefaction barge to be permanently moored off Colombia’s North coast. The US EXPORT-IMPORT Bank will also participate in the financing of this first of a kind floating liquefaction barge. The IFC will act as global arranger and agent to the facility.
EXMAR CFO, Miguel de Potter commented “We are very pleased to start a new relationship with those three institutions and will benefit from their extensive knowledge of the energy industry to further capitalize on this relation. This floating liquefaction barge is a technological breakthrough and we hope to be able to convince other clients to develop their gas reserves in the near future through this technology.”