Floating LNG (FLNG) has had a rough start. But in April, Petronas-owned PFLNG Satu offloaded its first cargo onto MISC’s 144,000m³ LNG carrier Seri Camellia.
That landmark event signals that FLNG technology can and will unlock stranded gas reserves around the world, after some of the biggest names in LNG shipping shelved or slowed their FLNG plans.
Two years ago, LNG World Shipping was tracking nearly 30 proposed FLNG ventures, see below. Of these, four companies had ordered or were planning to order seven FLNG vessels.
Infographic, LNG World Shipping October 2015
Only a handful have survived and made progress. Three vessels have left the shipyards so far. Petronas has delayed delivery of the fourth and will not start production on its second FLNG project before 2020.
FLNG is far from dead in the water, however. Last month, Italy’s ENI reached a final investment decision on the US$8 billion, 3.4 mta Coral FLNG project, off Mozambique. Samsung Heavy Industries will deliver the US$2.5 billion, 238,700m³ production vessel in 2021.
Golar LNG and its partners should reach FID by year-end on the Fortuna LNG project off Equatorial Guinea. Golar will convert the 126,000m³ LNG carrier Gandria to support the project.
This year’s infographic highlights a cluster of projects off Africa. Will the coming year bring a fresh cluster of projects in North America?
Watch this space.