Exmar LNG earnings rise in Q1

Belgium’s Exmar said its LNG business earned 8.9 million dollars in the first quarter of 2015, as compared to 8.8 million dollars in the same period a year before.

The consolidated result for the first quarter 2015 amounts to USD 9.4 million, as compared to USD 14.2 million for the first quarter 2014, the company said in its first quarter report.

Exmar is currently completing the construction of the world’s first floating liquefaction and storage unit (Caribbean FLNG).

The commissioning of the unit will start in the course of the summer in People’s Republic of China, according to the report.

Pacific Rubiales will start chartering the barge as from successful commissioning under the terms of the underlying 15 years contract while looking for alternative location, Exmar said.

The consortium between Exmar, Idemitsu Altagas and EDF Trading is progressing well on its FEED study for the Douglas Channel FLNG (Canada) and still expects the final investment decision for this asset to be made before the end of 2015.

Exmar also said that it is actively pursuing other liquefaction opportunities around the world for the second liquefaction barge on order at Wison Offshore and Marine, to be delivered mid-2018.

LNG World News Staff; Image: Exmar