Vopak has announced that it is in discussions with Exmar regarding the possible acquisition of Exmar's share in its floating storage and regasification unit (FSRU) business.
The outcome of the discussions is currently unknown. The two companies confirmed that they will not disclose further details, but will communicate material updates in the future.
Vopak is looking for strategic opportunities to strengthen its presence as a service provider in the LNG infrastructure market. The company jointly owns and operates two land-based storage and regasification terminals, the Gate terminal in the Port of Rotterdam, the Netherlands, and the TLA terminal in Altamira, Mexico.
The company sees FSRUs as a solution to capture new LNG consumption markets, which require quick ‘go-to’ market solutions. FSRUs provide entry points to distribute LNG in new and existing markets. In addition, a foothold in LNG infrastructure with a floating solution creates a strategic position to leverage on future LNG flow developments of land-based LNG regasification terminal solutions once markets have matured.
Exmar is currently co-owner and or operator of 10 FSRUs, and has one FSRU and one floating LNG (FLNG) facility under construction. Exmar is actively developing business opportunities for long-term employment of these two units under construction.
Edited from press release by Callum O'Reilly
Read the article online at: https://www.lngindustry.com/floating-lng/02092016/vopak-and-exmar-enter-fsru-discussions-2996/