Exmar and Its Consortium Were Selected as Preferred Bidder by the Petroleum Corporation of Jamaica (PCJ)
Summary
On November 12, 2009 PCJ issued an Request For Proposal (RFP) for the financing, development, ownership and operation of an FSRU LNG Regasification Terminal and Natural Gas Transportation System to nine international companies.Exmar strives to create shareholder value over the long term by balancing long- and short-term agreements to counteract volatility in the freight market, combined with providing services that are tailored to the needs of the customer.### Antwerp, Belgium, June 18, 2010 --( PR.com )-- The Government of Jamaica (GOJ) began investigating the possibility of introducing natural gas as an alternative fuel in 2001.The objectives of the project are to decrease the dependence on imported oil and oil derivatives, lower energy costs and utilize a more environmentally friendly fuel option.In April 2007, PCJ issued a worldwide Invitation to Pre-Qualify for the provision of an FSRU for Jamaica.On November 12, 2009 PCJ issued an Request For Proposal (RFP) for the financing, development, ownership and operation of an FSRU LNG Regasification Terminal and Natural Gas Transportation System to nine international companies.In response to the RFP, Exmar and its consortium submitted a proposal on Feb 15, 2010.Exmar formed a consortium with Promigas, the Colombian pipeline operator to answer the RFP and with a Jamaican company called CLNG for local optimization.Within the terms of the collaboration, Exmar will be responsible for the financing, development, ownership and operation of the FSRU LNG Regasification terminal and Promigas will be responsible for the financing, development, ownership and operation of the Natural Gas Transportation System.After review by an Evaluation Committee, established by the Jamaican LNG steering committee, the Exmar Consortium was selected as Preferred Bidder.The negotiations between the Preferred Bidder and PCJ will start immediately and expect to take several months.Exmar, headquartered in Antwerp, is a diversified and independent shipping group serving the international gas and oil industry.Exmar strives to create shareholder value over the long term by balancing long- and short-term agreements to counteract volatility in the freight market, combined with providing services that are tailored to the needs of the customer.