Vopak may buy Exmar’s FRSU business

Vopak may buy Exmar’s FRSU business

Exmar has revealed it is in discussions with bulk terminal operator Vopak, which is considering buying Exmar’s floating LNG storage and regasification (FRSU) business.

The Antwerp-based company declined to disclose any further details about the talks as the outcome is “currently unknown”.

Exmar currently owns and operates ten FSRUs, as well as its fleet of LNG and LPG carriers, and has been in the business for over 35 years – but lately its floating storage activities have met with some obstacles.

In March, Exmar and Pacific Exploration & Production (PEP) agreed to terminate the liquefaction and storage agreement they signed in March 2012 because it is no longer economically viable.

Exmar’s Caribbean FLNG unit would have been deployed at the project in Colombia, and the company is still looking for employment for the unit and another FSRU it has under construction.

Vopak, meanwhile, has targeted the storage and handling of LNG as one of its strategic focus areas and is looking for opportunities to grow within the LNG infrastructure market, Exmar said.

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.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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