Exmar: "Finally a contract for its FLNG unit!" -ING

EXMAR NV

21/11/2018 08:25

** Shares in Belgian tanker operator Exmar  EXMR.BR  up 13%,
set for best day since late 2008
    ** Co wins long-term contract from YPF to produce and export
first LNG from Argentina  urn:newsml:reuters.com:*:nFWN1XW068
    ** "This is extremely positive news for Exmar," KBC says,
while ING welcomes news saying "finally a contract for its FLNG
unit!"
    ** FLNG unit had been looking for employment since PRE
contract fell through in 2016
    ** KBC adds fast-track deployment doesn't require additional
capex, bringing co's EBITDA potential to $126 mln by 2020
    ** Contract brings additional prospects, KBC adds -- "we
could see Exmar building on the same strategy as we have seen
within the FSRU space - i.e. build, own and operate"
    ** TFLNG contract award to free up approx $67 mln of
restricted cash, KBC concludes
    

 (piotr.lipinski@tr.com)