New Fortress Energy makes move to build floating LNG producer

Wes Edens-led New Fortress Energy is continuing to boost its LNG business and now has revealed intentions to build a floating liquefaction unit.

The US firm said on Monday it made a final investment decision on a solution called “Fast LNG”.

This move comes just months after the firm revealed a $5 billion deal to buy two Golar units.

The modular liquefaction facility will have 1.4 million tonnes per annum capacity in order to provide a “low-cost supply” of liquefied natural gas for its growing customer base, the firm said.

In addition, the design pairs the “latest advancements” in modular, midsize liquefaction technology with jack-up rigs or similar floating infrastructure, NFE said.

Furthermore, this infrastructure would enable a “much lower cost and faster deployment schedule than today’s floating liquefaction vessels,” it said.

A permanently moored FSU will serve as an LNG storage facility alongside the floating liquefaction infrastructure as well.

Trio gets limited notice to proceed

NFE said it has issued a limited notice to proceed to Fluor, Chart Industries but also Baker Hughes for the construction of the first “Fast LNG” project.

US LNG equipment manufacturer Chart said in a separate statement its order for the project has a price tag of $47 million. The firm will supply process technology, heat exchangers, cold boxes, but also heavy hydrocarbon removal system.

NFE expects the project to become operational in about 20 months.

“Our innovative Fast LNG liquefiers should allow us to produce LNG between an expected $3-4 MMBtu for our growing portfolio of terminals around the world,” said NFE CEO and Chairman Wes Edens.

Edens said NFE can install this technology “quickly and cheaply” to access stranded, low-cost natural gas at a fixed price to meet the global demand for more “affordable, reliable and cleaner” energy.

“Alongside our terrific partners, we look forward to deploying one of the world’s lowest-cost LNG production facilities by 2022,” he said.

Most Popular

Technip Energies wins contract for Eni’s Coral Norte FLNG

France-based LNG engineering giant Technip Energies has won a contract for preliminary work on Eni's second FLNG project in Mozambique, Coral Norte (Coral North).

Victrol: LNG London hits bunkering milestone

The Shell-chartered inland bunkering vessel LNG London, owned by a joint venture of Belgium's Victrol and France's Sogestran, has reached a new operational milestone.

Himalaya’s LNG-fueled bulkers earned $34,500 per day in June

LNG-powered bulker owner Himalaya Shipping achieved average time charter equivalent earnings of about $34,500 per day in June.

More News Like This

South Africa’s Renergen awards contract for 2nd phase of helium and LNG project

Renergen, the operator of a small liquefied natural gas plant in South Africa, has selected US-based Chart Industries and two other partners for the second phase of its helium and LNG project.

Another FSRU arrives in Egypt

The 160,000-cbm FSRU Energos Eskimo has arrived in Egypt from Jordan, according to shipping data. The unit is one of four FSRUs that will serve a charter deal with Egypt's EGAS as the country seeks to meet its growing demand for natural gas.

Chart, Flowserve agree $19 billion merger

US LNG equipment maker Chart Industries and compatriot Flowserve have entered into a definitive agreement to combine in an all-stock merger of equals. The combined company is expected to have an enterprise value of about $19 billion.

Avenir LNG seals charter deal with Excelerate

UK-based small-scale firm Avenir LNG has secured a multi-year extension for its 7,500-cbm vessel Avenir Accolade with US FSRU player Excelerate Energy.