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Vopak and Exmar announce discussions on FLNG storage and regasification

Published by , Editor - Hydrocarbon Engineering
Tanks and Terminals,

Vopak and Exmar have announced that discussions are currently taking place to explore the possibility of an acquisition of Exmar's share in its floating LNG (FLNG) storage and regasification business (FRSUs) by Vopak.

As the outcome of these discussions between Vopak and Exmar is currently unknown, no further details are disclosed.

Vopak has earmarked storage and handling of LNG/gas as one of its strategic focus areas. Therefore, Vopak is looking for strategic opportunities to strengthen its presence as a service provider in the LNG infrastructure market. Today, Vopak jointly owns and operates two land-based storage and regasification terminals, the GATE terminal in the Port of Rotterdam, and the TLA terminal in Altamira, Mexico. It is foreseen that new LNG production capacity will significantly influence the energy mix in the coming years. These LNG streams will need to find new demand centres, e.g., to be connected to national grids serving growing deficit markets and to serve as gas supply for gas powered electricity production.

These new consumption markets, which often are being served by Vopak's current network customers, require quick go-to-market solutions. Floating storage and regasification assets serve as a solution to capture these opportunities, supported by long term customer contracts. In connection with jetty or mooring infrastructure, these FSRUs provide entry points to distribute LNG in new and existing markets. In addition, a foothold in LNG infrastructure with a floating solution creates a strategic position to leverage on future LNG flow developments of land-based LNG regasification terminal solutions once markets have matured. Vopak's global network and local presence supports these opportunities.

Exmar, active in LNG shipping for over 35 years and being a pioneer in the FSRU and FLNG (floating liquefaction) market, is currently co-owner and/or operator of 10 FSRUs, and has one FSRU and one FLNG facility under construction. Exmar is actively developing business opportunities for long term employment of these two units under construction.

Adapted from press release by Rosalie Starling

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