Exmar has entered into agreements with Regasificadora Del Pacífico (RDP) regarding the deployment of a floating storage unit (FSU) on the west coast of Colombia.
RDP is developing a fast track LNG import solution in the inner bay of Buenaventura, under a term contract signed with Colombian energy company Ecopetrol in February of 2025 to provide regasification and logistics services for a volume of 60 MMCFD of gas.
The solution will be based on the deployment of a floating storage and offloading unit, where the LNG will be loaded from LNG carriers and offloaded into isotainers for the transportation to the port of Buenaventura by barge.
Subsequently, the isotainers will be loaded on trucks and transported to the regasification plant in Buga, where the LNG will be regasified and injected into the Colombian national transport system. Exmar said this solution will allow Ecopetrol to bring in a new source of imported gas to Colombia.
Exmar will lease the FSU to RDP. Exmar's operation and maintenance teams have been entrusted with the management of the FSU, under contracts with a duration of five years firm, with options to extend.
The Buenaventura LNG project and underlying contracts with Exmar are still subject to final investment decision and other customary conditions precedent. Exmar expects these to be lifted in the fourth quarter of 2025.