The American Bureau of Shipping has granted approval in principle to Hyundai Heavy Industries floating liquefied natural gas (FLNG) hull design.
ABS and the South Korean shipbuilding giant collaborated with the objective of developing a technically feasible and class compliant FLNG hull design, using the latest industry trends while maintaining high safety standards, the duo said in a joint statement.
The approval demonstrates the design substantially complies with class and regulatory requirements and minimizes risk to project schedules and safe operations, giving regulatory agencies and other key stakeholders confidence in the design, the statement said.
“The newbuilding conversion FLNG hull design can be constructed for about half the cost as compared to a standard FLNG hull,” says Jae-Eul Kim , HHI Senior Vice President, Shipbuilding Division.
“In the current difficult energy market, ready-to-convert FLNG hull with ABS AIP gives the FLNG market an efficient approach, with competitive price and schedule, helping investors take financial investment decisions,” he added.