Exmar still in talks to find work for Tango FLNG

Belgian shipowner Exmar is still trying to find work for its Tango FLNG after it settled a dispute with Argentina’s YPF in October last year.

To remind, previous Tango FLNG charterer YPF issued a force majeure in June saying that Covid-19 effects have hindered its ability to perform its obligations under charter deal with Exmar.

The two firms reached the settlement agreement on October 19 under which Exmar would receive in total $150 million.

Exmar said in its full-year report it received $67.5 million until now from YPF as the firm will pay the whole amount in 13 monthly instalments.

Meanwhile, the Belgian firm demobilized the 0.5 million tons floating LNG producer. The unit now waits in a “sheltered location in Nueva Palmira in Uruguay.”

Exmar says marketing activities are in “full swing”.

“Given its status as a fully-proven facility, there is a healthy interest from the market for the redeployment of Tango FLNG,” Exmar said.

In addition, the fact that the start of 2021 saw increased price levels of oil and gas globally would “certainly benefit the opportunities for reactivation,” the firm said.

- Advertisements -

Most Popular

Cheniere working on huge LNG capacity expansion

US LNG exporting giant Cheniere is working to add over 30 million tonnes of capacity at its Sabine Pass...

CEO: Repsol in talks to export Canadian LNG to Europe

Spanish energy firm Repsol has confirmed that it is in negotiations to add liquefaction units at its existing Saint...

Eni buys Exmar’s Tango FLNG to deploy it in Congo

Italian energy giant Eni has signed a deal to buy Exmar's Tango FLNG and plans to deploy the unit...

More News Like This

Eni buys Exmar’s Tango FLNG to deploy it in Congo

Italian energy giant Eni has signed a deal to buy Exmar's Tango FLNG and plans to deploy the unit...

Exmar’s small FSRU arrives in the Netherlands

Exmar’s small FSRU S188 has arrived in the Netherlands onboard a heavy transport vessel owned by Boskalis, following a...

Exmar’s small FSRU leaves Singapore to start Dutch job

Exmar’s small FSRU S188 has left Singapore onboard a heavy transport vessel owned by Boskalis and is...

Exmar says Tango FLNG still available for charter

Belgian shipowner Exmar is still trying to find work for its small 0.5 mtpa floating LNG producer, Tango FLNG,...