Tango FLNG En Route to Argentina

Thursday, December 27, 2018

Belgium based EXMAR announced Thursday that its floating liquefied natural gas (FLNG) facility has left China for a 45-day voyage to the destination of its liquefaction operations at the Port of Bahia Blanca in Argentina.

The barge-based Tango FLNG (previously named Caribbean FLNG) is on the move just one month after a contract was signed for a firm, 10-year deployment.

Upon its arrival, the facility will be put in operation for EXMAR’s customer YPF S.A. and is expected to start up LNG production in the second quarter of 2019. Tango FLNG is designed for a liquefaction capacity of about 500,000 tons tons of LNG per year and will play a central role in YPF’s efforts to export LNG from the Vaca Muerta source at the Neuquén Basin in Argentina to the international markets. Up to eight LNG cargoes per year will be produced over a 10-year period.

EXMAR said the hire rate of the unit is partially based on a floating rate with an expected EBITDA of around $43 million per year based on the estimated production of the Tango FLNG, with upside potential depending on the market environment.

Categories: Ports Energy LNG Barges Vessels Activity South America Natural Gas Floating Production FLNG

Related Stories

Petronas Expands Suriname Portfolio with Deepwater Block Acquisition

Woodside Agrees Long-Term LNG Supply with Petronas Unit

MODEC and Terra Drone Renew FPSO Drone Inspection Partnership

Petronas-Eni Upstream Joint Venture to Take Up to Two Years to Set Up

Fugro Expands Geotechnical Testing Capabilities in Indonesia

Sapura Energy Nets $22.6M in Offshore Support Vessel Contracts

Hanwha Ocean Marks Entry into Deepwater Drilling Market with First Drillship

VARD Snags $125M Shipbuilding Deal for Subsea Construction Vessel

ADNOC Signs 15-Year LNG Supply Deal with Osaka Gas for Ruwais Project

Shell Predicts 60% Rise in LNG Demand by 2040 with Asia Leading the Way

Current News

Petronas Expands Suriname Portfolio with Deepwater Block Acquisition

Japanese Oil and Gas Firm Enters Two Blocks off Malaysia

Yinson Production, “K” LINE Target Europe's CCS with FSIU and LCO2 Solutions

Woodside Agrees Long-Term LNG Supply with Petronas Unit

MODEC and Terra Drone Renew FPSO Drone Inspection Partnership

Yinson Production Closes $1B Investment to Drive Further Growth

Petronas-Eni Upstream Joint Venture to Take Up to Two Years to Set Up

Wood JV Gets EPC Job for Shell off Brunei

Chuditch Gas Field Drilling Ops Get Delayed to Next Year

French Oil Major Acquires Interests in Multiple Blocks in Southeast Asia

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com