Monday, April 2, 2012

Daewoo to sign 1st LNG-FPSO

Malaysia’s Petronas Gas is expected to take a final investment decision (FID) on its first floating liquefaction (FLNG) project very soon.

The company wants to use the 1.2-million-tonne-per-annum (mtpa) floating production, storage and offloading (FPSO) unit, to develop its Kanowit gas discoveries off Sarawak in East Malaysia.

The floater will be built by Daewoo Shipbuilding & Marine Engineering (DSME) and its contractor partner on the project, Technip. Estimates suggest it will cost close to $2bn.

Delivery is slated for late 2015, although it is expected this could slip into the following year.

Industry players say the unit is being seen as an initial step into the FLNG sector by Petronas. The outfit has already flagged up its commitment to developing the business further by launching a front-end engineering and design (FEED) tender for a second LNG floater with shipyards.

Published : April 2, 2012

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