EXMAR is pleased to announce that it has signed an Agreement with Eni for the sale of the TANGO FLNG.

TANGO FLNG floating liquefaction plant, delivered in 2017, has a storage capacity of 16,100 m³ of LNG (liquefied natural gas) and a liquefaction capacity of up to 0.6 million tons per year.

The value of the transaction for the sale of TANGO FLNG is in a range of USD 572 and USD 694 million, depending on the actual performance of the TANGO FLNG during the first six months on site. TANGO FLNG will be made available to Eni at the closing date of the transaction, which is expected in the second half of August 2022.

Deployment of TANGO FLNG is foreseen at the Eni Congo-operated Marine XII offshore block in the Republic of Congo.

As part of the project, Eni and EXMAR also agreed a 10-year charter for a Floating Storage Unit (FSU) which will be based on the conversion of a LNG carrier. Furthermore, EXMAR will provide Operations & Maintenance services for both TANGO FLNG and the FSU and engineering services for the project which will be the object of separate contracts.

EXMAR’s Executive Chairman Nicolas Saverys stated: “We are pleased to work with Eni to help increase their LNG supplies on a fast track basis. This represents a significant milestone for EXMAR in its ambition and proof of our ability to further develop LNG infrastructure solutions.

About EXMAR

EXMAR is a provider of floating solutions for the operation, transportation and transformation of gas. EXMAR’s mission is to serve customers with innovations in the field of offshore extraction, transformation, production, storage and transportation by sea of liquefied natural gases, petrochemical gases and liquid hydrocarbons. EXMAR creates economically viable and sustainable energy value chains in long-term alliances with first class business partners.
EXMAR designs, builds, certifies, owns, leases and operates specialized, floating maritime infrastructure for this purpose as well as aiming for the highest standards in performing commercial, technical, quality assurance and administrative management for the entire maritime energy industry. EXMAR is listed on Euronext Brussels (EXM) and is part of the BEL Small Index.

About Eni

Eni is an integrated energy company employing more than 34.000 people in 69 countries in the world. Eni engages in oil and natural gas exploration, field development and production, as well as in the supply, trading and shipping of natural gas, LNG, electricity and fuels. Through refineries and chemical plants, Eni processes crude oil and other oil-based feedstock to produce fuels, lubricants and chemical products that are supplied to wholesalers or through retail networks or distributors.