Belgian floating oil and gas infrastructure specialist Exmar has signed a five-year contract with Regasificadora del Pacifico (RDP) for the lease and deployment of an LNG floating storage and offloading unit off the west coast of Colombia, Exmar announced on Thursday.
The unit will support an RDP contract with Ecopetrol signed in February 2025 to provide regasification and logistics services to bring 1.7 mcm (60 mcf) per day of gas into the Colombian market.
Under the terms of its engagement, Exmar will supply the FSU and provide teams to operate and maintain the vessel for a firm period of five years, with options to extend the term. The financial terms of the deal were not immediately disclosed.
“Exmar is excited to embark on this journey with the experienced project development teams of the RDP group. We are confident that the combined strengths of Exmar’s expertise and RDP’s project development experience in Colombia will offer an innovative LNG import solution,” said Exmar CEO Carl-Antoine Savery.
Exmar’s FSU will load LNG from tankers and offload it onto isotainers for transport by barge to the port of Buenaventura on Colombia’s west coast. The isotainers will then be transported over land in trucks to a regasification plant in Buga, where the gas will enter Colombia’s national distribution system.
The Buenaventura LNG project and the underlying contract with Exmar are subject to a positive FID and customary conditions precedent that are expected to be lifted in Q4 2025.
Source: theenergyyear.com