SINGAPORE - A wholly-owned unit of Keppel Offshore & Marine (Keppel O&M) will soon deliver the world's first converted floating liquefaction vessel (FLNGV).
The vessel, named Hilli Episeyo at a ceremony in Keppel Shipyard on Sunday, is owned by Golar Hilli Corporation (Golar), a subsidiary of Golar LNG.
The vessel is undergoing commissioning and testing, and is expected to be delivered in August. Upon completion, it will be put in operation in offshore Kribi, Cameroon, for Société Nationale des Hydrocarbures and Perenco Cameroon, and will be the first FLNGV project in Africa.
"By combining our expertise from a variety of complex offshore conversion projects and our capabilities in executing LNG-related engineering, procurement, construction projects, we are able to offer innovative and reliable floating liquefaction solutions to meet the growing midstream needs of the LNG industry," said Keppel O&M chief executive Chris Ong.
"Compared to newbuilds, converted FLNGVs are significantly more cost-effective and faster to market, without compromising safety and processing capabilities.
"With the experience gained from this first FLNGV conversion project, we are in a unique position to provide customers with reliable end-to-end solutions for the EPC and commissioning of FLNGV as well as floating storage and regasification unit (FRSU) conversions," he said.
Hilli Episeyo was converted from a 1975 built Moss LNG carrier with a storage capacity of 125,000 cubic metres. It is designed for a liquefaction capacity of about 2.4 million tonnes of LNG a year.
Mr Oscar Spieler, chief executive of Golar LNG, noted the Hilli Episeyo is a game changer in the LNG industry with its "fast track, low cost project execution".
"The development of this FLNGV positions us as forerunners in providing offshore liquefaction solutions to meet the growing demand for liquefied natural gas. We are uniquely positioned to take on projects also in a low commodity price environment and determined to enable unlocking of reserves from remote, marginal and stranded gas fields," Mr Spieler said.
With the global push towards cleaner energy, demand for natural gas is expected to increase significantly, said Keppel.
FLNGV solutions enable operators to overcome the geographic, technical and economic limitations of developing natural gas resources located in marginal fields while FSRUs help reach consumers in remote areas.