Exmar Secures Final USD 200 Mn for Caribbean FLNG

Exmar Belgium’s LNG and LPG carrier owner and operator Exmar has secured a USD 200 million financing for its floating liquefaction unit Caribbean FLNG. The financing deal was reached with Bank of China, Sinosure and a leading European financial institution, according to Exmar. Currently under construction at Wison Offshore and Marine shipyard, the Caribbean FLNG is scheduled to be delivered in the coming weeks, after being postponed a number of times. The proceeds from the financing will be 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.