Wison Hands Over World’s 1st Barge-Based FSRU to Exmar

Shanghai-based Wison Offshore & Marine (Wison) has delivered the world’s first barge-based floating LNG storage and re-gasification unit (FSRU) to Belgian company Exmar.

The delivery follows Exmar’s confirmation that it has secured long-term employment for the FSRU starting from mid-2018.

The identity of the “reputable third party” behind the long-term charter is yet to be revealed.

“The delivery of the FSRU is a testimony of EXMAR’s commitment to continuously improve the solutions we offer to the LNG supply chain industry. I am very pleased and honoured that long-term employment for the FSRU was secured prior to delivery,” Nicolas Saverys, CEO of Exmar, commented.

The FSRU vessel, constructed at Wison Nantong shipyard, features an LNG storage capacity of 25,000m³ and a re-gasification capacity of 600 MMSCFD. It is the first ever FSRU project undertaken by a Chinese company on EPC basis.

This barge-based FSRU serves as a flexible LNG receiving solution which makes considerable reductions in CapEx and lead time possible for project developers, Wison added describing the vessel.

 “Successful delivery of the project again showcases Wison’s strong capability to deliver cost-effective solutions. We are committed to Page 2 of 2 commercialization of global LNG industry by delivering higher returns for various types of infrastructure investors, making LNG more affordable,” Ying Cui, CEO of Wison Offshore & Marine said.

The FSRU delivery comes in less than a year since Wison handed over the Caribbean FLNG in January 2017.

However, the Caribbean FLNG is still without work as several negotiations on its employment are said to be underway.

The vessel was set to work for Canada-based oil and gas company Pacific Exploration and Production (PEP), however, the agreement between Exmar and PEP was terminated in March 2016.

No income is expected from the Caribbean FLNG before the end of 2018.

Image Courtesy: Wison