Belgium’s Exmar, the Nicolas Saverys-led shipowner, said its Caribbean FLNG, to be renamed Tango FLNG, departed China and set course for Argentina.
Under the agreement, Exmar signed with Argentina’s YPF, the FLNG will be redeployed as Tango FLNG at the Argentinian Port of Bahia Blanca for a 10-year term to produce and export LNG from the Vaca Muerta source at the Neuquén Basin.
The project marks the entry of Argentina to the global LNG exporting nations, with an initial plan to export 500,000 tons of LNG per year to overseas markets.
Exmar said earlier that unit will be producing up to eight LNG cargoes per year over the term of the contract.
The FLNG unit left for Argentina a month after signing the contract with the voyage expected to take approximately 45 days, Exmar said.
Tango FLNG is expected to start up LNG production in the second quarter of 2019.