MOL, DSME Join Forces on Cutting FSRUs’ Environmental Impact
- Business & Finance
Japanese shipping major Mitsui O.S.K. Lines has entered into an agreement with Korean shipbuilder Daewoo Shipbuilding & Marine Engineering to jointly develop a new technology to reduce environmental impact for Floating Storage and Regasification Units (FSRU).
This new technology named ‘Cryo-Powered Regas’ is aimed at enabling the utilization of the LNG cold energy, which used to be disposed, as power generation energy by adopting the Organic Rankine Cycle in the regasification process of FSRU.
The technology is expected to reduce fuel consumption and CO2 emission of FSRU significantly.
MOL and DSME plan to test the technology in a small-scale pilot facility within 2020, before making it commercially available.
The two industry heavyweights have been cooperating already on FSRU projects.
Namely, in 2017 DSME delivered the MOL FSRU Challenger to MOL.
The FSRU is designated to be used for the Hong Kong Offshore LNG Terminal Project (HKOLNG Project).
It would receive, store, and regasify LNG for the supply of natural gas to Castle Peak Power Company Ltd (CAPCO) and The Hongkong Electric.
The FSRU is to enter into service at the terminal around the end of 2020 earliest after delivery and completion of commissioning.
The research project is being pursued as interest in FSRUs continues to pick up as a solution for flexibility and mobility in both the LNG and electricity supply chain.
FSRUs are used for storing and regasifying LNG, which is then pressurized and piped ashore. A floating LNG terminal is a good way of cutting construction costs and time execution period when compared to constructing a terminal from scratch.