Belgium's Exmar Makes $47 Million Loan for Canadian LNG Project

Belgian gas shipper Exmar said on Tuesday it had made a C$50 million ($47.42 million) loan to finance the construction of its new Canadian floating storage and production unit.

The group said last week it would design a new floating barge for an LNG project in British Colombia, which will be delivered in 2016 and remain operational for 20 years.

Exmar said it had also set up a joint venture to acquire interests in the Canadian LNG project upstream of its production unit and acquired an option to buy 50 percent of the LNG cargoes that will be produced by the unit. ($1 = 1.0543 Canadian dollars)

Reporting by Robert-Jan Bartunek (C) Reuters 2013.