GasLog moving forward with FSRU conversion

Monaco-based LNG shipper, GasLog on Monday said that Singapore’s Keppel shipyard begun ordering equipment required for the conversion of an LNG carrier to a floating storage and re-gasification unit.

GasLog aims to convert one of its LNG tankers or one from the company’s MLP, GasLog Partners to an FSRU.

The long lead items (LLI’s) Keppel ordered include pumps, vaporizers, heat exchangers and low duty compressors, which are vital equipment for the conversion process.

These items take approximately 12 months to deliver at a total cost of around $16 million, GasLog said in its statement.

According to the shipping company, ordering this equipment reduces the time necessary to convert an LNG carrier from between 18-20 months to 6-8 months once these items are delivered.

“Securing the LLI’s at this time, puts GasLog in a position to offer a fast track solution for FSRU projects in the future,” the company noted in the statement.

GasLog said it is working on a number of potential projects where the LLI’s could be used in a vessel conversion and has a number of well suited candidates for conversion in its fleet of LNG carriers.

To remind, GasLog announced in March this year it had named Bruno Larsen as head of FSRU development as the company is making its first steps in the FSRU market.

Many new markets are choosing FSRUs to use them as import terminals as it is the quickest and the cheapest way to get access to worldwide LNG supplies.

LNG World News Staff