LNG

Italian major Eni said it had begun to introduce feed gas into the “Tango FLNG” floating production plant ahead of the shipping of the first cargo in a project located offshore the Republic of Congo in West Africa.

July 14 (LNGJ) - Belgian shipping company Exmar, which chartered a regasification barge to the Netherlands and sold a floating LNG production vessel to Italy’s Eni for deployment in Africa, has altered share totals and schedules to progress with the takeover of Exmar by Saverex NV, the holding company of the family of Exmar Executive Chairman Nicolas Saverys.

   A statement said the initial acceptance period of the voluntary and conditional public takeover bid had an initial acceptance of 77.76 percent of the outstanding shares. Saverex has, therefore, decided to waive the 95 percent acceptance threshold and was proceeding with the bid. The payment of the bid price for the shares offered during the initial acceptance period is still scheduled for July 27. Saverex has also decided voluntarily to reopen the bid from Monday 28th August until Friday15th September 2023 at 16:00 (Belgian time).

Belgian shipping company Exmar, owner of the “Tango FLNG” barge last deployed in Argentina and now up for re-charter, said it was getting its finances back on track after payments from Argentine energy company YPS and financing deals for other parts of its fleet.

Exmar, the Belgian shipping line with a fleet of more than 40 vessels, posted its best first-half results of recent year and gave an update on the “Tango FLNG” production barge “force majeure” ongoing since June as well as the latest events relating to its financial position as a going concern.