In its new eBook, LNG: Fueling the Future, LNG infrastructure solutions company Black & Veatch examines the role LNG will play in the future of the global energy landscape.
The company detailed how the industry must scale beyond its current production capacity to balance increasing levels of renewable energy alongside near- and long-term consideration of alternative clean energy solutions, including hydrogen, nuclear, energy storage and carbon capture.
It noted that LNG for baseload power can bridge the gaps between the retirement of coal-fired power assets, the speed of renewable energy penetration and the emergence of newer and alternative clean energy solutions.
“Scaling production, speed to market and maintaining competitive pricing are critical components for the industry to meet growing demands. Innovative approaches to technology and execution, such as floating LNG (FLNG) and modularization, are driving the industry forward and unlocking stranded gas in locations unsuitable for traditional large-scale facilities,” the company stated.
Mario Azar, Chairman and CEO, Black & Veatch, commented: “Global economies are in the process of transitioning from a carbon-based economy to an electron- and molecule-based one. Finding the right energy mix for near-term requirements and long-term change will be critical.”
Narsingh Chaudhary, President, Asia Pacific and India, Black & Veatch, added: “LNG is essential to moving the world towards a low-carbon future at a faster pace by stabilizing grids and enhancing their resilience.”
To note, Black & Veatch is said to be involved in five FLNG projects in operation or under construction globally. It includes the first MOSS vessel conversion to an FLNG facility, the Golar Hilli Episeyo FLNG vessel, which was completed in Singapore.
The company pointed out that FLNG technology offers speed to market, capitally efficient and innovative solutions for monetizing offshore gas reserves and the ability to develop nearshore facilities to export pipeline gas. The approach also increases construction efficiency and quality while risks are mitigated through modular design and construction in shipyards, it said, adding that FLNG technology provides compact designs that enable smaller environmental footprints than onshore facilities.
Black & Veatch highlighted that its work in developing and constructing FLNG facilities is supported by its PRICO technology, a liquefaction technology “ideal” for producing LNG that can be used for peak shaving, medium- and heavy-duty vehicles, industrial fueling, baseload power and offshore applications. The company claimed that PRICO‘s simplified operation and flexible configuration make it scalable for use in small, mid and large-scale facilities and enable innovative project solutions for onshore, offshore and nearshore LNG facilities.