Vopak, Exmar in FSRU talks

06.09.2016. Vopak and Exmar have announced exploratory discussions on floating LNG storage and regasification (FSRU).
As the outcome of these discussions between Vopak and Exmar is currently unknown, no further details were disclosed.
Vopak has earmarked storage and handling of LNG/gas as one of its strategic focus areas. Therefore the company is looking for opportunities to strengthen its presence as a service provider in the LNG infrastructure market. Today, Vopak jointly owns and operates two land-based storage and regasification terminals, the GATE terminal in the Port of Rotterdam, and the TLA terminal in Altamira, Mexico.
It is foreseen that new LNG production capacity will significantly influence the energy mix in the coming years. These LNG streams will need to find new demand centres, eg, to be connected to national grids serving growing deficit markets and to serve as gas supply for gas-powered electricity production.
These new consumption markets, which often are being served by Vopak’s current network customers, require ‘quick go-to-market’ solutions, Vopak said.
Floating storage and regasification serve as a solution to capture these opportunities, supported by long-term customer contracts. In connection with jetty or mooring infrastructure, FSRU’s 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 future LNG flow developments of land-based LNG regasification terminal solutions once markets have matured,” a Vopak statement said.
Exmar is currently co-owner or operator of 10 FSRUs, and has one FSRU and one FLNG facility under construction. Exmar is actively developing business opportunities for long term employment of these two units under construction.