TORP, STX Enter into Strategic Alliance (Norway)

TORP LNG AS and STX Offshore & Shipbuilding have entered into a strategic co-operation agreement whereby they will jointly market TORP’s proprietary HiLoad and EasyLNG solutions for offshore transfer of LNG and floating re-gasification.

TORP LNG AS has developed the award winning HiLoad LNG Technology to receive and re-gasify liquefied natural gas (LNG) and to transfer LNG from an offshore LNG liquefaction plant to LNG Carriers for transportation to world LNG markets. TORP is also the sole owner of the EasyLNG re-gasification technology which has been developed specifically to facilitate the receipt and re-gasification of LNG at locations with limited infrastructure.

STX is a world leader in offshore engineering and shipbuilding with yards in South Korea, China and Europe, with long traditions in building of sophisticated ships such as LNG Carriers.

The strategic alliance is formed to provide the rapidly growing world LNG market with TORP’s innovative and economically superior solutions delivered with first class workmanship and quality from STX renowned yards in Korea and China.

Lars Odeskaug, CEO of TORP LNG AS, explained: “The HiLoad Technology enables us to safely transfer LNG from a floating liquefaction plant to any LNG carrier with a regularity that no other system can match. EasyLNG is probably the most economical and flexible solution for LNG receipt, storage and re-gasification available in today’s market and we see a huge potential for this solution in the years to come. With STX as our partner, we will be able to provide these solutions on time and on budget to the most demanding clients.”

Dave Hwang, Vice President, STX Offshore & Shipbuilding, said:” It’s a quite significant milestone for both parties to materialize and expedite the real FSRU facilities in the market.”

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Source: TORP LNG, March 23, 2011;