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Billions of dollars are being committed to what could be the liquefied natural gas industry’s next big trend: Floating LNG projects, or FLNG.
Three projects are under way now, and the whole LNG world is watching to see how they work out. First production could come in 2014 or 2015.
Can producing LNG aboard giant floating factories really cut costs and development time? Can the production vessels really withstand the worst fury an ocean can churn up? Can they really bring to market gas from hundreds of remote offshore fields that would be too expensive to develop otherwise?
Major oil and gas producers, multinational engineering firms and the world’s biggest shipyards all are trying to position themselves for breakout growth of FLNG.