Belgium’s Exmar has secured a long-term charter for a floating storage and regasification unit that was at the centre of arbitration with trader Gunvor.
The 25,000-cbm FSRU S188 (built 2017) has been fixed to Dutch energy infrastructure company Gasunie LNG Holdings for five years.
Gasunie will use the unit as a floating LNG import terminal at Eemshaven in the Netherlands, “in view of the geopolitical developments currently going on in Europe and the increased emphasis of governments on the security of energy supply”, Exmar said.
The objective is to have the FSRU up and running by the end of the third quarter of 2022.
“We are happy to reach this agreement with Gasunie,” said Exmar executive chairman Nicolas Saverys.
“It proves the possibilities of our floating infrastructure solutions as a quick-to-market and competitive solution for securing energy supply to communities, industries and households.”
Last October, Exmar said the search for work for the FSRU was continuing, after Gunvor had paid Exmar $56.8m following an arbitration ruling in a charter dispute in 2021.
Gunvor ended its charter after the decision in favour of Exmar, handing over a termination fee equal to two years of charter hire.
The trader had begun the proceedings in 2019.
Gunvor had a 10-year charter for the barge-based FSRU for use in Bangladesh, but had raised some unspecified legal arguments, Exmar said.
