Wison Offshore & Marine Successfully Delivered World’s First FLNG Barge

Shanghai, China, July 27^th, 2017– Wison Offshore & Marine (“Wison”) today announced that the company has completed the final delivery for the world’s first barge-based floating natural gas liquefaction and storage facility (Caribbean FLNG). Prior to the delivery, the contracts for project financing provided by Bank of China, Deutsche Bank and supported by China Export & Credit Insurance Corporation have been officially signed, which laid a good foundation for the successful delivery of the project.

Wison undertook the Caribbean FLNG project under an engineering, procurement, construction, installation and commissioning (EPCIC) contract with Exmar. With a liquefaction capacity of 500,000t/y, the FLNG successfully completed its performance test at the Wison yard in Nantong, China in Sept. 2016. This marks for the first time in history that LNG has been produced onboard a floating facility as well as the first time that a floating liquefaction unit has completed gas-trial and performance test before sail-out.

Mr. Wei Huaqing, Project Manager for the Caribbean FLNG project and Deputy General Manager of Wison (Nantong) Heavy Industry, stated, "We appreciate the support provided by Exmar and Black & Veatch during the project execution. The final delivery of the FLNG project verified Wison’s comprehensive competence from selection of process technologies, engineering, qualified supplier management, fabrication technologies to commissioning of process plants, demonstrating our integrated EPCIC solution and project delivery capabilities for complicated projects. The project not only cemented Wison’s leading position in turnkey projects of floating LNG production, storage and transportation facilities around the world, but also showcased the market a cost-effective and reliable floating liquefaction solution that could help clients to monetize their gas asset more efficiently. "