Bumi Armada Berhad said it had received Approval in Principle from the American Bureau of Shipping for an innovative floating liquified natural gas (FLNG) infrastructure solution that brings LNG to the market in a fast-track, cost-effective, flexible, and reliable manner. This new concept FLNG incorporates a newly built barge-based liquefaction unit and the utilization of existing LNG carriers for storage.
The shipping group has developed the barge-based liquefaction unit for a standardised LNG design capacity based on having a modularised and repeatable compact design. This concept allows for a phased approach to deploying parallel liquefaction units to match any required capacity for the monetisation of gas, eliminating the need for large and costly onshore infrastructure. Reusing LNG carriers is expected to provide a safe and quality option for LNG storage.
Bumi Armada said ir firmly believes that this streamlined approach will yield substantial time and cost savings. This FLNG concept presents a promising solution to the pressing challenge of meeting the growing demand for cleaner, gas-based energy with a lower carbon footprint.
Gary Christenson, Bumi Armada’s Chief Executive Officer, said “This technology is a testament to our strong commitment towards providing the best solutions that unlock the pathway to achieve net zero by 2050, which is in Bumi Armada’s decarbonization agenda.”