Exmar reported flat net income for the first quarter as it received the first payment for the cancelled Caribbean FLNG project.

The Belgium-based company reported first quarter net income of $9.3m, down from $9.4m a year earlier as turnover reached $75.3m, a 10% drop from a year ago.

Exmar said the figures include a $5m payment from the cancellation for the Caribbean FLNG project by Pacific Exploration and Production.