Wison Delivers Caribbean FLNG Mammoth

Wison Offshore and Marine has officially delivered the Caribbean FLNG, the world’s first barge-based floating natural gas liquefaction and storage facility.

The vessel was constructed by the shipbuilder under an engineering, procurement, construction, installation and commissioning (EPCIC) contract with Belgium’s LNG and LPG carrier owner and operator Exmar.

With a liquefaction capacity of 500,000 t/y, the FLNG completed its performance test at the Wison yard in Nantong, China in September 2016.

“This marks for the first time in history that LNG has been produced onboard a floating facility as well as the first time that a floating liquefaction unit has completed gas-trial and performance test before sail-out,” Wison informed.

Prior to the delivery, the contracts for project financing provided by Bank of China, Deutsche Bank and supported by China Export & Credit Insurance Corporation have been signed.

Exmar secured the USD 200 million financing for Caribbean FLNG in late June. The proceeds from the financing were used to pay the last instalment to the shipyard.

Caribbean FLNG 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.

“Progress has been made on the future employment of the Caribbean FLNG and future communication on this is expected in the coming months,” the company said in April.

Image Courtesy: Wison Offshore & Marine