Malaysia’s Bumi Armada has received an approval in principle from classification society ABS for a floating liquefied natural gas (FLNG) solution.
Bumi Armada said in a statement the solution brings LNG to the market in a “fast-track, cost-effective, flexible, and reliable manner.”
This new FLNG concept incorporates a newly built barge-based liquefaction unit and the utilization of existing LNG carriers for storage, according to the firm.
Moreover, Bumi Armada has developed the barge-based liquefaction unit for a standardized LNG design capacity based on having a modularized and repeatable compact design, it said.
This concept allows for a phased approach to deploy parallel liquefaction units to match any required capacity for the monetization of gas, eliminating the need for large and costly onshore infrastructure, Bumi Armada said.
In addition, reusing LNG carriers is expected to provide a safe and quality option for LNG storage, the firm said.
Bumi Armada said it “firmly believes that this streamlined approach will yield substantial time and cost savings.”
The Malaysian firm recently joined forces with a unit of Indonesia’s state-owned energy firm Pertamina and also natural gas trader Davenergy Mulia Perkasa to develop a floating LNG production project based on the resources from the Madura gas field and its surrounding fields.
Under the deal, Bumi Armada and Pertamina International Shipping will design, engineer, construct, install, commission, hook up, and operate a floating natural gas liquefaction and storage facility, together with an LNG carrier.
The partners expect first shipment of LNG to take place three years after making a final investment decision.
