Wison, Shanghai Electric Team Up on Floating LNG Power Barge
- Business & Finance
Wison Offshore & Marine and Shanghai Electric Power Generation Group are looking to join efforts in medium to large-scale floating LNG power generation barge, with regards to its product development, global marketing and technical services.
The parties signed a Memorandum of Understanding (MOU) on strategic cooperation which aims to promote the commercialization of this new electrification solution while opening up a series of further cooperation in the power sector.
Based on the floating LNG storage regasification and power generation (FSRP) solution developed by Wison earlier on, both parties will join forces to build up capabilities throughout FSRP project life cycle from product development, marketing, project financing, facility construction, to operation and maintenance, with a view to accelerate commercialization of this solution in global market.
The parties will focus on developing medium large-scale FSRP, and study the application of Shanghai Electric’s gas turbine technology and integrated generation set solution to the FSRPs, such that the product’s economy and reliability can be further enhanced.
“It’s no doubt the complimentary strengths and resources of the two companies can facilitate our path forward in commercializing floating LNG power, which in turn will solidify a leading position in this emerging market,” CUI Ying, CEO of Wison Offshore & Marine, said.