08 augustus 2022
09:58
–
The European hunger for gas is reflected in the entire sector. The gas tanker shipping company Exmar announced the sale of its floating LNG factory Tango on Friday evening and will receive a hefty price for it. “A deal that removes all doubts about the balance sheet,” analysts say.
–
With a tiger jump of more than 35 percent, Exmar
Monday furore at the Brussels stock exchange. To the surprise of many, the natural gas shipping company has opened its Tango floating LNG factory sold to Italian oil and gas giant ENI priced between $572 million and $694 million, depending on Tango’s performance in the first six months of its launch.
–
Tango, a 144-meter-long colossus, has been unemployed since Argentina’s YPF broke its contract with Exmar two years ago. But with this deal, Exmar is doing an excellent job.
–
ING analyst Quirijn Mulder estimates that Exmar was able to sell the floating factory for about 17 times the estimated annual gross operating profit (EBITDA). “We estimate that Exmar turned net debt into a net cash position of $200 million in one go.”
–
The fact that the gas carrier shipping company receives such a solid price has to do with the changed market conditions. In 2022 the world will look completely different than in 2020.
–