Vopak and Exmar announce that discussions are currently taking place to explore the possibility of an acquisition of Exmar's share in its floating LNG storage and regasification business (FSRU's) by Vopak.
As the outcome of these discussions between Vopak and Exmar is currently unknown, no further details are disclosed. Material updates will be communicated via press releases.
Vopak has earmarked storage and handling of LNG/gas as one of its strategic focus areas. Therefore Vopak is looking for strategic 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 centers, e.g. 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. Floating storage and regasification assets serve as a solution to capture these opportunities, supported by long-term customer contracts. In connection with jetty or mooring infrastructure, these 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 on future LNG flow developments of land-based LNG regasification terminal solutions once markets have matured. Vopak's global network and local presence supports these opportunities.
Exmar, active in LNG shipping for over 35 years and being a pioneer in the FSRU and FLNG (Floating Liquefaction) market, is currently co-owner and 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 .
Profile Royal Vopak
Royal Vopak is the world's leading independent tank storage provider for the oil and chemical industry. As of 2 September 2016, Vopak operates 67 terminals in 25 countries with a combined storage capacity of 34.6 million cbm, with another 3.6 million cbm under development, to be added by 2019. Vopak's mission is to provide safe, efficient and clean storage and handling services of bulk liquid products and gases at key marine locations that are critical to its customers around the world. The majority of its customers are companies operating in the oil, chemicals and gas sector, for which Vopak stores a large variety of products destined for a wide range of industries. Vopak's strategic focus is on four categories of terminals: Major hubs supporting intercontinental products flows, Terminals facilitating growth in global gas markets, Import distribution terminals in major markets with structural deficits, Industrial and chemicals terminals in the Americas, the Middle East and Asia.
Profile Exmar NV
Exmar NV, with its headquarters in Antwerp, is a leading independent owner and operator of LNG/LPG Carriers and of industrial, marine and logistical solutions covering the processing, handling, liquefaction, transport and regasification of gas for the benefit of clients active in the energy, power and industry sectors. Exmar has a diversified fleet of 45 ships/ assets, including gas transportation and storage solutions and several offshore assets. Having over three decades of experience in the shipping and handling of cryogenic gases, Exmar maintains a high leadership profile with the industry's largest players through successful operations and continuous innovation.
For more information regarding Vopak please contact:
Press
Liesbeth Lans, Manager External Communication,
Telephone : +31 (0)10 4002777, e-mail: global.communication@vopak.com
Analysts and investors
Chiel Rietvelt, Head of Investor Relations,
Telephone : +31 (0)10 4002776, e-mail: investor.relations@vopak.com
For more information regarding Exmar please contact:
Miguel de Potter, CFO
Telephone: +32 3 247 56 70
www.exmar.be
This press release contains inside information as meant in clause 7 of the Market Abuse Regulation.