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, currently located in Uruguay.

The firm settled a dispute with Argentina’s YPF in October 2020 under which Exmar received in total about $150 million for the terminated 10-year charter deal.

After that, Exmar demobilized the unit in a sheltered location in Nueva Palmira in Uruguay until it finds a new job for the 144 meters long floating LNG producer with a 16,100 cbm storage capacity.

“Being promoted as a fast-track solution to develop LNG exports, continued efforts are being made to re-employ the floating barge. Current energy markets are positive,” Exmar said in its first-quarter report on Thursday.

On the other side, Exmar is no longer looking to find work for its small 26,000-cbm, barge-based FSRU S188 as it recently signed a five-year charter deal with Dutch Gasunie.

Gasunie expects the unit to arrive from Singapore at its planned terminal in Eemshaven in early August.

According to Exmar, plans for the project include water heat recovery for the LNG regasification process and getting power from shore in order to further minimize the environmental impact within the port operated by Groningen Seaports.

Besides these two units, Exmar is also looking at options for the 2002-built steam turbine LNG carrier, Excalibur, it owns in joint venture with Seapeak. This is the only LNG carrier in Exmar’s fleet.

The 138,034-cbm vessel completed its long-term charter with US floating LNG player Excelerate last year.

Exmar is looking at “various options” for the vessel, including as an FSU/FSRU or straight time-charter, it said.

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