Pacific Rubiales Energy Corporation of Columbia signs an agreement for EXMAR to develop the world's first ever Floating Liquefaction Unit (FLNG)

On 28th March 2012, Pacific Rubiales Energy Corporation of Columbia (PRE) signed an agreement requiring EXMAR to build, operate and maintain a Floating Liquefaction (FLNG) to be located on the Colombian Caribbean coast. In collaboration with its partner Black & Veatch, the Floating Liquefaction unit would be constructed at the Wison Offshore and Marine Ltd yard in Nantong, China. The unit would then be delivered off the Columbian coast connected via underground and overground pipeline to La Creciente Field in Northern Columbia, facilitating the export of LNG of PRE's reserves to Central American and Caribbean markets.

On 5th November of the following year, PRE entered into a pre-agreeement with Gazprom Marketing & Trade Limited for the five year sale and purchase covering approximately 0.5 million tons per year of liquefied natural gas (“LNG”) FOB Colombia (Caribbean Sea) commencing commercial operations in 2015. This LNG cargo is to be produced in, and loaded from, EXMAR’s CARIBBEAN FLNG.