Following the announcement on 2 September 2016 that EXMAR and Vopak had started exploratory discussions on floating LNG storage and regasification, an important milestone has been reached being the signing of an agreement on the acquisition of the FSRU business of EXMAR by Vopak and the possible cooperation between EXMAR and Vopak in future projects.

The agreement on the acquisition envisages the transfer in stages of EXMAR’s participation in FSRU assets, FSRU projects under development and a corresponding part of the EXMAR organisation.

The finalization of the deal is subject to consent and cooperation of multiple stakeholders including current partners in the FSRU’s and customary approval from authorities.

Subsequently, the ultimate scope of the transaction is dependent on the outcome of this process.

As the outcome of the scope and the timing of the completion of the acquisition is currently unknown, no further details are disclosed.