Shanghai-based firm Wison Offshore & Marine and ABB have signed a memorandum of understanding (MoU) to develop floating liquefied natural gas (FLNG) facilities worldwide.
By optimising and standardising the FLNG unit design, ABB and Wison O&M want to significantly improve the production efficiency of LNG at sea. FLNG facilities make the production, liquefaction, and storage of natural gas possible at sea, from where it can be shipped directly to customers around the world.
Wison O&M’s experience as a provider of engineering, procurement, construction, installation, and commissioning (EPCIC) to the FLNG market will be paired with ABB’s expertise in integrating electrical, control, and safety systems.
Valued at over $14,187 million in 2020, the global FLNG market is to reach a value of over $104,281 million by 2031, growing at a CAGR of 20.1 percent.
Wei Huaqing , assistant president of WOM, said: “The FLNG market continues to grow. We are pleased to be working with ABB and look forward to leveraging our complementary expertise to deliver more value for FLNG customers around the world. By combining our bespoke offerings, we believe we can increase productivity in greenfield developments and in doing so improve overall CAPEX efficiency.”
The agreement will also use ABB’s project methodology called ‘Adaptive Execution’. It offers customers visibility of their project, from start to finish, via a single, streamlined and centralised approach.
Cruise-Feng Li , head of ABB Energy Industries China, commented: “Adaptive Execution can help unlock significant project value for FLNG customers. By designing in a modular and standardized way, and testing everything in a virtual environment, we can tackle design challenges early on, boost performance and ensure reliability of the infrastructure. This enables all the parties involved in the project to achieve more in shorter timeframes, optimizing the overall delivery schedule and saving on cost.”
ABB says it has already delivered power and automation solutions to over 70 floating production projects around the world.