Exmar seals $150m settlement in FLNG contract dispute

Belgian owner Exmar has announced that it has reached a settlement agreement with Argentine oil company YPF over a dispute over the Tango FLNG agreements.

In June, YPF issued a force majeure notice for the Tango FLNG, which Exmar considered to be unlawful.

Under the settlement agreement, YPF will pay $150m via 18 monthly installments for the early termination of the charter agreement.

Exmar said the FLNG is now available for other projects.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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