EXMAR NV (“EXMAR”) (Euronext: EXM) is pleased to announce today an order for a second Floating LNG
Liquefaction Unit (“FLNG”) at Wison Offshore & Marine (“Wison”). Under the agreement Wison will be responsible for the turnkey engineering, procurement, construction, transportation, installation and commissioning (EPCIC) of the FLNG, which will be a self-contained barge with a liquefaction capacity of 0.6 MTPA (Million Tons Per Annum) and 20, 000 m³ of LNG storage. The FLNG will be constructed at Wison’s shipyard in Nantong, China, where also the construction of the world’s first FLNG for EXMAR is nearing completion. EXMAR also secured additional firm options for two (2) more FLNG’s.
Building on EXMAR’s nearshore barge-based FLNG concept, this second order will enable EXMAR to offer a reliable and more cost-efficient LNG production facility to its customers compared to a land-based solution. The FLNG is
scheduled to be completed in 2017, which EXMAR views as one of several strong competitive advantages as it will allow faster monetisation of existing gas reserves.
Nicolas Saverys, CEO of EXMAR stated: “It is clear that lower oil and gas prices will continue to boost demand for cost-efficient and fast-track FLNG solutions over land-based liquefaction terminals. We continue to see strong growth in the FLNG market. Thanks to our first-mover advantage we are actively working on seven (7) FLNG projects around the world. With this second FLNG contract we take another key step towards further strengthening our unique position in the FLNG market.”
Wison’s CEO Matt Cui added to that: “It is again an honour to receive this order from our strategic partner EXMAR,
with whom we have already developed the Caribbean FLNG that is currently under construction. The Caribbean
FLNG will come online off the Colombian coast in the second half of 2015.”
EXMAR’s management is convinced the company is well positioned with this second FLNG contract to play a major
role in further developing LNG infrastructure for its customers and partners in the years to come. By doing so,
EXMAR continues to build its position as a leading independent owner and operator of floating LNG assets.