An approval in principle (AiP) from Bureau Veritas Marine & Offshore (BV), part of Bureau Veritas Group, is paving the way for Belgian shipping company Exmar to breathe life into its floating liquefied natural gas (FLNG) concept, which is based on the conversion of an existing membrane-type LNG carrier.
Exmar has been awarded AiP by Bureau Veritas Marine & Offshore for its FLNG conversion design, which is created to enable offshore gas processing, liquefaction and LNG storage based on a membrane-type LNG carrier with an effective LNG storage capacity of approximately 170,000 cubic meters (cbm) and a design life of 25 years.
David Barrow , SVP for Western Europe and Americas at Bureau Veritas Marine & Offshore, commented: “Floating liquefaction solutions already play an important role in unlocking offshore gas resources and supporting the development of energy projects in a flexible and cost-effective manner.
“We are pleased to grant approval in principle to Exmar’s FLNG conversion concept, which demonstrates how existing LNG carrier assets can be repurposed to support future offshore developments. This project highlights how collaboration across the industry can drive innovative and practical solutions that combine technical feasibility with project efficiency.”
The concept has been assessed against applicable Bureau Veritas requirements for offshore production gas units. The review focused on the hull structure and stability, the existing LNG cargo containment system, and the FLNG mooring arrangement.
The AiP demonstrates the potential viability of adapting existing membrane LNG carrier assets into floating liquefaction facilities, providing an alternative pathway to develop offshore gas resources while supporting efficient project execution and diversifying energy supply.
The FLNG is intended to unlock stranded gas resources, aiming at projects with low initial capital costs, a shorter timeline from final investment decision (FID) to production, and high efficiency requirements.
Leveraging the conversion of an existing LNG carrier rather than a newbuild vessel is said to allow the concept to offer a practical approach to reducing development schedules and capital investment while providing a flexible solution for offshore gas developments.
The AiP comes over a month after Exmar took delivery of an LNG carrier set to be upgraded to function as a floating transshipment unit (FTU) for the LNG bunkering market.