ICBC Finances EXMAR for FLNG project

EXMAR stated that on June 23rd 2015 under the witness of King Philippe of Belgium and President Xi Jinping, Mr. Jiang Jianqing, Chairman of Board of ICBC and Mr. Nicolas Saverys, CEO of EXMAR, signed the financing agreement for the world’s first floating LNG unit (FLNG – Floating Liquefaction and Storage Unit).

ICBC will provide financing to EXMAR for the FLNG project in a total amount of USD 200,000,000. It is reported that this project is China’s biggest exporting project to Belgium in terms of contract value
up to now, and also the highest technology project.

It is known that Belgium is China’s 5th biggest trading partner in the European Union, but the major exporting products to Belgium are low-level industrial products like steel and toys.

The FLNG ordered by EXMAR is the world’s first floating natural gas liquefaction unit. It has the functions of natural gas processing, liquefaction and storage, and represents the new generation of
offshore units. The unit will be serving for the gas project of Pacific Rubiales Energy, which is the second biggest oil and gas company of Colombia. EXMAR, is a Belgian shipping company and provider to the global energy industry, specialized in liquefied gas logistics and storage.