By Jos Leo, Director of Business Development, CB&I
The presentation provides an overview of the FLNG initiatives in the market. As a result of the FID decision on Shell Prelude FLNG unit, the energy market has seen a spin off with new activities on the FLNG front. FLNG was till recently the domain of stranded gas fields that could only be monetized by a floating production unit. The FLNG market now has become more robust - financiers, LNG off-takers and energy companies have gained trust by the fact that the first FLNG is actually being built.
As a consequence, more field developers are now embracing the FLNG application. Spearpoint areas for FLNG include Australasia, offshore Brazil and offshore Africa. Apart from a feasible vehicle to develop stranded offshore gas fields, the FLNG units are considered a viable proposition for areas where the realization of a conventional LNG project might be constrained.
There appears to be an analogy between the market for crude oil FPSOs, floating storage and regasification units (FSRUs) and potentially floating LNG units (FLNGs). For FPSOs and FSRUs, the developments are characterized by a long development period with only a few players being active. Once the new technologies were accepted by the industry, there was a boost in the development within a short time span.
It is interesting to see if FLNG is moving in the same direction.
The presentation will be discussing the market developments, the market drivers and the actual players.
Presentation file here