LNG – Important growth space for the oil and gas sector

GE Oil & Gas and Technip have this week signed a Memorandum of Understanding for a joint project to explore areas to co-develop digital solutions for the LNG industry, with a particular focus on the design and build phase of new Liquefied Natural Gas (LNG) projects.

The two companies will work together to evaluate the application of digital solutions to the engineering, construction, commissioning, startup and operation of LNG facilities. All solutions under consideration would encompass Technip and GE Oil & Gas expertise in digital tools and be powered by Predix, the world’s first and only cloud-based operating system built exclusively for industry by GE.

“We are entering this partnership with the same pioneering spirit which inspired us 50 years ago when Technip built the world’s first LNG plant,” said Nello Uccelletti, President Onshore Offshore, Technip. “Together with GE Oil & Gas, we aim to develop digital solutions that create value over the entire life of a project. This partnership is derived from Technip’s steadfast commitment to technology, which we firmly believe is core to optimizing oil and gas developments. As we did 50 years ago, as we are doing it in the FLNG era, we are also convinced this partnership will represent another significant step forward in the LNG industry.”

According to Technip, LNG is an important growth space for the oil and gas sector. As global gas demand rises, and stretches into new markets, the volume of liquefied natural gas traded globally is expected to double by 2035. Additionally, digital solutions will continue to play an increasingly critical role for oil and gas as the industry prioritizes the optimization of their equipment and operations to improve productivity and cost-efficiencies.

Given recent developments, the probability of LNG displacing oil as the preferred fuel will continue to increase and as such the potential of LNG as a marine fuel will grow.

Offshore Energy Exhibition & Conference will host a technical session covering hot topics from the LNG sector. The session will give an overview and update on LNG and will touch on the advantages of LNG as a marine fuel. Speakers will include suppliers to the industry as well an LNG researcher. This session is organized in cooperation with LNG World News and Netherlands Maritime Technology (NMT).

Join the Technical Conference Session during Offshore Energy Exhibition & Conference to be held on 25 and 26 October in Amsterdam, The Netherlands. More information on the LNG session and the whole conference program can be found on the event’s website: www.offshore-energy.biz