Classification organization ABS has given Approval in Principle (AIP) to Hyundai Heavy Industries (HHI) for floating liquefied natural gas (FLNG) hull design.
As informed, ABS and HHI collaborated with the objective of developing a technically feasible and class compliant FLNG hull design.
The ABS AIP demonstrates the design substantially complies with class and regulatory requirements and minimizes risk to project schedules and safe operations, ABS explained.
“The newbuilding conversion FLNG hull design can be constructed for about half the cost as compared to a standard FLNG hull,” Jae-Eul Kim, HHI Senior Vice President, Shipbuilding Division , commented.
“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,” Kim added.
Working in the offshore and energy industry, ABS supports parties involved in gas-related projects, including LNG and LPG transportation, the use of LNG and other gases as fuel and emerging offshore LNG terminal technology projects. In addition, a newbuilding conversion FPSO hull concept design is under development, following the same process.