Pacific Rubiales and Gazprom Sign on EXMAR FLNG Project

Posted by staff
Thursday, November 07, 2013
Photo: EXMAR

EXMAR announced two keystone events in its Caribbean FLNG project.

On November 5, Pacific Rubiales Energy Corp. (PRE) and Gazprom Marketing & Trade Ltd. (GM&T) announced the execution of a heads of agreement with respect to a five year sale and purchase agreement covering approximately 500,000 tons per year of liquefied natural gas (LNG) FOB Colombia (Caribbean Sea) commencing commercial operations in the second quarter of 2015. This LNG cargo will be produced in, and loaded from, EXMAR’s Caribbean FLNG barge.

Last week, Wison Offshore & Marine Ltd. completed the installation of the three LNG storage tanks into the hull of the Caribbean FLNG barge, reaching a significant milestone in the construction of the world's first floating LNG production unit. With this major activity completed, the pathway is clear for installing the deck and topsides of the barge.

EXMAR’s CEO, Nicolas Saverys, stated, “The execution of a heads of agreement between our customer, PRE, and the major international gas company GM&T is an important step in the implementation of the project’s marketing strategy. Having a leading gas company like GM&T signing offtake from our Caribbean FLNG project is strong industry recognition of our barge-based FLNG strategy. Our project is progressing on schedule, and expected to be mechanically completed in April 2014, with ‘sail away’ in the fall of 2014 in order to be ready to start commercial operations in the second quarter of 2015.”

EXMAR also announced that, together with its joint venture partner Teekay LNG , it has declared options to build two additional Midsize LPG carriers at Hanjin Heavy Industries. These bring the total of newbuildings for EXMAR LPG BVBA to 12 vessels, four of which are currently being built at Hyundai MIPO and eight will be built at Hanjin. Delivery of these vessels will be between February 2014 and May 2018.

exmar.be
 

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

LNG

New Standard for LNG Cargo Containment Systems

Wilhelmsen Technical Solutions (WTS) said it has successfully completing the gas trial for the first LNG carrier built to a Boil Off Rate (BOR) of 0.08% per day.

LNG America, Buffalo Marine to Design LNG Bunker Fuel Network

LNG America announced it has entered an agreement with Buffalo Marine Service, Inc. (Buffalo Marine) to cooperate on the design of an LNG bunker fuel network for the U.

World’s 1st LNG Hybrid Barge Christened "Hummel"

The world’s first LNG hybrid barge of Becker Marine Systems was christened with the name "Hummel" on October 18, 2014, at Grasbrook Quay in HafenCity Hamburg.

News

Nordic American Offshore Declares Dividend

Nordic American Offshore Ltd. today announced that its board of directors has declared a dividend of $0.45 per common share for the third quarter 2014. This is the same as for the second quarter 2014.

Missouri River Basin is Booming

The U.S. Army Corps of Engineers Missouri River Basin Water Management Division is maintaining above normal releases at the four lower dams on the Missouri River.

Bollore Africa Logistics Sees Profit Plunge in H1

First half 2014 profit at shipping company Bollore Africa Logistics plunged to 5.89 billion CFA francs ($11.48 million) from 9.45 billion CFA francs in the same period last year,

Barges

Missouri River Basin is Booming

The U.S. Army Corps of Engineers Missouri River Basin Water Management Division is maintaining above normal releases at the four lower dams on the Missouri River.

Smith Brothers Chrtisten New Tug

Smith Brothers, Inc., Chesapeake Bay-based barge and marine equipment charter company, recently added the tug Capt. Kenneth to its fleet of inland and truckable tugs.

World’s 1st LNG Hybrid Barge Christened "Hummel"

The world’s first LNG hybrid barge of Becker Marine Systems was christened with the name "Hummel" on October 18, 2014, at Grasbrook Quay in HafenCity Hamburg.

Offshore Energy

Ocean Rig, Petrobras Agree to $1.1b Drill Ships Lease

Cyprus-based Ocean Rig UDW Inc said on Monday that it signed a $1.1 billion three-year contract with Brazil's state-run oil company, Petroleo Brasileiro SA, to

GAO: Ending Crude Export Ban Could Ease 'Price at the Pump'

As the energy profile of the U.S. continues to improve and evolve daily, fresh debate in favor of exporting oil and gas products -- which would have a significant impact on the U.

Autonomous Technology for Offshore Wind Farm

ASV Ltd in association with Planet Ocean Ltd, have received funding from the GROW:OffshoreWind initiative to investigate how the use of Autonomous Surface Vehicles

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Pipelines Port Authority Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1718 sec (6 req/sec)