EXMAR NV

Capital/Financing Update • Jun 24, 2015

ICBC provides financing for China's biggest Export project to Belgium

EXMAR is pleased to announce that on June 23rd 2015 under the witness of King Philippe of Belgium and President Xi Jinping, Mr. Jiang Jianqing, Chairman of Board of ICBC and Mr. Nicolas Saverys, CEO of EXMAR, signed the financing agreement for the world's first floating LNG unit (FLNG – Floating Liquefaction and Storage Unit).

ICBC will provide financing to EXMAR for the FLNG project in a total amount of USD 200,000,000. It is reported that this project is China's biggest exporting project to Belgium in terms of contract value up to now, and also the highest technology project.

It is known that Belgium is China's 5th biggest trading partner in the European Union, but the major exporting products to Belgium are low-level industrial products like steel and toys.

The FLNG ordered by EXMAR is the world's first floating natural gas liquefaction unit. It has the functions of natural gas processing, liquefaction and storage, and represents the new generation of offshore units. The unit will be serving for the gas project of Pacific Rubiales Energy, which is the second biggest oil and gas company of Colombia. EXMAR, is a Belgian shipping company and provider to the global energy industry, specialized in liquefied gas logistics and storage.

In recent years, ICBC has leveraged its advantages in group-wide integration and global service network to actively provide full-suite financial services for Chinese companies going global and "One Belt and One Road" construction. Currently, the overseas presence of ICBC has expanded to 42 countries and territories, representing the widest coverage among Chinese financial institutions. Given the opportunities brought by the "One Belt and One Road" program, ICBC takes full advantage of its extensive experience in overseas infrastructure investment and financing, the innovative model of commercial banking plus investment banking and diversified overseas product lines to provide specialized investment and financing services in sectors of power, transportation, oil and gas, mining, telecommunication, machinery, industrial park development and agriculture.