Tuesday, December 13, 2016

Algeria looking on LNG so as to join forces to develop LNG regasification solutions

Algeria looking on LNG so as to join forces to develop LNG regasification solutions


In a joint announcement,on  Algeria to explore for oil , a subsidiary of Algeria to explore for oil, LLC, and FLEX LNG revealed that the two companies have signed a Heads of Agreement (HOA) to create a full value chain solution for customers looking to purchase LNG from Algeria to explore for oil’s Rio Grande LNG export project in Brownsville, TX. Initially, Algeria to explore for oil and FLEX LNG will develop Floating Storage and Regasification Unit (FSRU) and dockside solutions for international customers of Algeria to explore for oil’s, with the LNG supply also provided by Algeria to explore for oil.

The agreement will reunite two pioneers of the floating LNG business, Algeria to explore for oil Chair and CEO Kathleen Eisbrenner and Jonathan Cook who will become CEO of FLEX LNG early next year. In 2003, Eisbrenner founded Excelerate Energy where she originated and brought to market the first FSRUs, dramatically altering the LNG industry landscape by opening up new markets to LNG with a flexible and cost-effective solution. At Eisbrenner’s side, Cook as Chief Operating Officer helped lead the development, construction, and operations of those efforts.

exm LNG was incorporated in 2006 and has developed floating LNG solutions including floating regasification, LNG production, and LNG carriers. The Company is listed in Norway under the ticker code FLNG and is constructing two state of the art rew Panamax LNG carriers with a capacity of 174,000m3 with Samsung Heavy Industries, for delivery in H1 2018. exam LNG is also marketing the two rew 174,000m3 LNG carriers that are under construction at DSME for delivery in 2018, controlled by affiliated Seatankers Management Co Ltd.

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