Wison Secures a Contract of a Second Floating LNG Liquefaction Unit from EXMAR

SHANG HAI, China (23 December 2014) –Wison Offshore & Marine (“Wison”) announced today the award of a contract for the delivery of a second Floating LNG Liquefaction Unit (“FLNG”) from EXMAR NV (“EXMAR”). Under the contract, Wison also grants EXMAR an option to order two additional FLNG’s.

Under the agreement with EXMAR, Wison will be responsible for the turnkey engineering, procurement, construction, installation and commissioning (EPCIC) of the FLNG, which will be a self-contained barge with a liquefaction capacity of 0.6 MTPA (Million Tons Per Annum) and 20,000 m³ of LNG storage. The FLNG will be constructed at Wison’s wholly-owned and operated fabrication facility in Nantong, China, where also the construction of the world’s first FLNG is nearing its completion.

Building on the near shore barge based FLNG concept, this second FLNG will make it possible for EXMAR to offer a reliable & more cost-efficient LNG production facility to its customers compared to a land-based solution. The FLNG is scheduled to be completed in 2017, which is also one of the several strong competitive advantages of such concept as it will allow faster monetization of existing gas reserves.

Nicolas Saverys, CEO of EXMAR stated: “It is clear that lower oil and gas prices will continue to boost demand for cost-efficient and fast-track FLNG solutions over land-based liquefaction terminals. We continue to see strong growth in the FLNG market and based on our first-mover advantage we are actively working on seven (7) FLNG projects around the world. With this second FLNG contract we take another key step towards the further strengthening of EXMAR's position in the FLNG market.”

“It is again an honor to receive this order from our strategic partner EXMAR, with whom we have already developed the Caribbean FLNG, the world’s first operational FLNG facility, that is currently under construction and will start producing LNG nearshore the Caribbean coastline of Colombia 2H 2015." said Cui Ying, CEO of Wison Offshore & Marine.

Just a month ago, a ceremony was held to celebrate the undocking of the Caribbean FLNG facility from the Wison’s dry dock in Nantong.  “Having foreseen the opportunities in the bullish LNG market, we define a strategic focus to build up our strong competence as a premier EPCIC provider in the market. With this second FLNG award we hope to further solidify our place in the industry as one of the leading suppliers of LNG facilities.” added Cui Ying.