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While it's first FLNG project is underway in South Korea, Malaysia's oil & gas giant Petronas has already begun work on planning and executing its second FLNG project. The state-owned oil company has awarded the engineering procurement, construction, installation, commissioning (EPCIC) contract to the consortium of JGC Corp, Samsung Heavy Industries, JGC (Malaysia) Sdn Bhd and Samsung Heavy Industries (M) Sdn Bhd.
Planned to be moored at the Rotan gas field in deep water Block H, offshore Sabah, the second FLNG facility will have a liquefaction capacity of 1.5 million mt/ year, and begin operations by early 2018, Petronas confirmed.
The first floating LNG facility vessel (PFLNG 1) has already begun the keel laying process at the Daewoo Shipbuilding & Marine Engineering (DSME) shipyard in Okpo, South Korea. PFLNG 1 will be moored at the Kanowit field, off Sarawak with a design capacity of 1.5 million mt/year, which is expected to begin operations by end of 2015.
The other key companies working closely with Petronas are Murphy Oil - secured the FID of the project, while JGC-Samsung venture and a consortium comprising Japan's Mitsui Ocean Development and Engineering IHI, Toyo Engineering and US-based CB&I are awarded the work of front-end engineering design study on the FLNG project.
More on Petronas's FLNG/ FSRU updates as well as opportunities for ship builders, fabricators, logistics/ pipeline/technology licensors, refiners, investment bankers will be discussed at CMT's FLNG World 2014 - Floating Liquefaction & Floating Terminals on 29-30 April, 2014, in Kuala Lumpur.
For enquiries on registrations, contact Ms. Huiyan at email@example.com or call +65 6346 9113.
World FLNG industry is expected to attract over USD 70 billion Investments through 2020 according to the LNG Analysis Study published by the Market Publishers. Every known oil & gas company is trying to capitalize on the untapped FLNG sector. Royal Dutch Shell PLC has completed building the hull of the world's largest floating facility - named Prelude. Measuring 488-meter (1,600 foot), Prelude was built and then floated out of the dry dock in Geoje, South Korea on 3rd Dec, 2013 - making it the biggest vessel ever sent to sea. Expected to begin operations in 2017, Prelude will help Shell process natural gas off the coast of western Australia.
The vessel will float above gas fields and anchored about 200 km off the Australian coast. It has a capacity of 600,000 tons (with its storage tanks full) which is equivalent to 110,000 barrels of oil per day in natural gas. Prelude is so robust that it can withstand a category 5 cyclone.
Once operational, it is expected to produce about 3.6 million tons of LNG a year (mtpa) along with its 5.3 mtpa of liquids and other hydrocarbons - which is actually much lesser in quantity as compared to some of the land-based LNG plants.
Estimated to be built at a staggering cost of over $12 billion, experts say it could be a game changer for the oil and gas industry. However, its economic viability will only be known in next few years.
Taking the next steps with Browse
With Prelude, Shell has the first mover advantage in FLNG, therefore it has already chalked out the designs for the next vessel - larger and tougher than Prelude. It aims at building a vessel that can last for 25 years in the Indian Ocean's "cyclone alley" off Australia's northwest coast.
It is named as the Browse project, for which Shell has once again collaborated with Samsung Heavy Industries and built it in the latter's Geoje shipyard in South Korea. Like Prelude, Shell plans to use Browse to explore FLNG off the coast of Australia. Browse will be almost similar to Prelude.
Apart from Shell, there is PETRONAS in Malaysia and Exmar that have already begun building FLNG vessels. There are also the likes of ExxonMobil, PTT in Thailand, BHP, and many others that are coming forward to explore FLNG opportunities.
CMT is holding its first FLNG World conference in Kuala Lumpur on 29-30 April, 2014 to encourage discussions among key players on the latest trends & developments in the FLNG industry.
For enquiries, please contact Ms. Huiyan at firstname.lastname@example.org or call +65 6346 9113.
Malaysia's PETRONAS is one of the first companies in the world to start constructing a floating LNG facility. Known as the Kanowit, the FLNG facility is currently under construction at the Daewoo Shipbuilding & Marine Engineering (DSME) in Okpo, South Korea.
In June 2012, Petronas Floating LNG 1 (Labuan) signed a US$ 771 million engineering, procurement, construction, installation, and commissioning (EPCIC) contract with the Technip-DSME consortium. While Technip is designing the topsides in Kuala Lumpur and Paris, Daewoo's Okpo yard is catering to the hull engineering and construction of the facility.
The FLNG vessel is expected to be world's first floating liquefaction unit in operation when deployed in 2015. It will operate at the Kanowit gas field, 180km offshore Bintulu, Malaysia. With an annual capacity of 1.2 million tons, the facility will help PETRONAS monetize its upstream stranded gas assets and reduce the provisioning of fixed infrastructure costs. The FLNG facility is expected to increase Malaysia's total LNG production capacity from 25.7 mpta to 26.9 mpta.
FLNG is said to be a game changer in the oil & gas industry as it can go a long way in meeting the growing energy appetite in cities of Bangladesh, China, India, Indonesia, and Vietnam in a cost-effective manner. Consumers who are currently dependent on pipeline gas, can get flexible supply with FLNG. In fact a study by Market Publishers states that the world FLNG industry is expected to attract over USD 70 billion investments through 2020. Every known oil & gas company is trying to capitalize on the untapped FLNG sector.
CMT is proud to host its first FLNG World conference to Kuala Lumpur, Malaysia on 29-30 April, 2014.
For enquiries on registrations, please contact Ms. Huiyan at email@example.com or call +65 6346 9113.