Wison Offshore Caribbean FLNG unit unloaded into the water

On November 19th, the launching ceremony of the Caribbean FLNG installation was held in the Nantong production base of Wison Ocean Engineering Co., Ltd. (“Waisheng Offshore”), marking this new economic FLNG project that will change the market competition. A step closer to the process of commercialization.

        Floating LNG liquefaction storage devices are expected to effectively reduce the cost and time required to deliver gas to the market. Therefore, this commercialization will help promote the wider application of global natural gas and play an important role in achieving the balance of the world's energy structure.

The Caribbean FLNG project was provided by Wison Offshore for the EXMAR Group using the EPCIC model (design, procurement, construction, installation and commissioning) at the Columbia Coast. This non-self-propelled barge converts 72 million standard cubic feet of natural gas per day into liquid natural gas (+/- 500,000 tons of LNG per year) for temporary storage and export.

EXMAR and Wison's key partner in the project, Black & Veatch, also attended the ceremony. In this project, Black & Veatch is responsible for the design and equipment procurement of the upper liquefaction plant and provides its patented PRICO LNG liquefaction technology.

       Currently, Wison and Black & Veatch are working together on the commissioning of the plant to prepare for the departure and delivery to Colombia before the end of the second quarter of 2015. The device will be delivered in July next year and will arrive in Colombia, becoming the world's first operational FLNG.

       With the departure of the Caribbean FLNG unit, Wison will begin construction of a second LNG plant at the Nantong production site, a barge-loaded floating regasification unit for Exmar and Canada's Pacific Rubiales Energy (PRE). The subsidiary, Pacific Midstream Holding, owns a 50% joint venture company. According to the news, the LNG plant will operate in Peru.

       “This is not only a new milestone for the Caribbean FLNG project, but also a sign that the entire industry is one step closer to the reality of the birth of floating LNG.” Wisdom Offshore President L. Dwayne Breaux said, “As a leading project, it is not possible. The missing member, Wison Offshore, in conjunction with partner Black & Veatch, provides services to EXMAR and its customer Pacific Rubiales Energy, and demonstrates its ability to provide the market with a highly economical EPCIC solution. This solution can also be replicated for use on other LNG projects."

       “From the very beginning, our team has set a goal of setting a new benchmark for the industry and verifying the economics of offshore LNG production.” Bob Germinder, senior vice president of oil and gas business at Black & Veatch, said, “The experience and cooperation of each partner has been Fully demonstrate the management capabilities of complex and challenging integrated projects."

        This is an important milestone in the development of the Colombian project. “We have established a good relationship with these two partners,” said Nicolas Saverys, CEO of EXMAR. In the second half of 2015, when our FLNG project will produce the world's first commercial LNG cargo, we are excited to be the world leader in creating an industry market. ”