Black & Veatch patented PRICO® technology and industry expertise called upon to meet growing global demand for energy
OVERLAND PARK, Kan., July 2, 2014 (GLOBE NEWSWIRE) -- Black & Veatch will combine its licensed PRICO® LNG technology and its global engineering, procurement and construction capabilities with the services of Keppel Shipyard Limited (Keppel Shipyard) to convert a Golar LNG carrier to a Floating Liquefied Natural Gas Vessel (FLNGV).
Black & Veatch worked with Golar in early 2012 on the concept and the front end design for the FLNGV. Golar then negotiated with Keppel Shipyard and Black & Veatch for the EPC contract to convert the Hilli, a 125,000 cubic meter LNG carrier, to a FLNGV.
"Golar, Keppel Shipyard and Black & Veatch form a strong combination of industry leadership for this complex offshore conversion project," said Michael Chia, Managing Director, Marine & Technology, Keppel Offshore & Marine Ltd. "The result will be an innovative solution that brings a faster and more cost effective alternative to address the competitive global demand for energy."
According to a Douglas-Westwood World FLNG Market Forecast, the global FLNG industry is expected to attract more than US$65 billion of investments through to 2020. This is driven by rising costs of onshore LNG terminals.
"This is the decade of gas and the LNG sector, in particular, has fundamentally changed post-Fukushima," said Hoe Wai Cheong, Executive Vice President and Executive Director of EPC Projects for Black & Veatch. "This, along with the increasing commercialization of unconventional gas resources in North America, creates a new energy frontier."
The project is set for delivery in the first quarter of 2017. Black & Veatch will perform process design, detailed engineering, specify and procure topside equipment, and provide commissioning support.
The Hilli will arrive at Keppel's Shipyard in Singapore within 3 to 4 months. There the team will begin to update key systems onboard the vessel. This will be completed while the topsides are manufactured with the entire project expected to be completed and delivered in approximately 31 months. The conversion is faster than a new build project and will therefore result in LNG being brought to market sooner.
"LNG has the potential to deliver greater energy security for generations to come. Innovators like Golar and Keppel are at the forefront of anticipating these changes by developing faster-to-market and mobile FLNG solutions," added Cheong.
Editor's Notes:
- The Golar conversion will be built to relevant marine classification society rules and regulations.
- Black & Veatch has a record of reliable performance with 25 plants around the world featuring the PRICO® technology.
- PRICO® is an innovative process to liquefy natural gas, making it available for transport via ocean tanker or truck. The process uses a single-mixed refrigerant loop for natural gas liquefaction. The process provides several key advantages, including:
- A simplified refrigeration system that requires minimal equipment and a compact process that makes it ideal for offshore liquefaction
- Low capital and operating expenditure
- Simplified control and maintenance
About Black & Veatch
Black & Veatch is an employee-owned, global leader in building Critical Human Infrastructure™ in Energy, Water, Telecommunications and Government Services. Since 1915, we have helped our clients improve the lives of people in over 100 countries through consulting, engineering, construction, operations and program management. Our revenues in 2013 were US$3.6 billion. Follow us on www.bv.com and in social media.
About Keppel Shipyard
Keppel Shipyard is a subsidiary of Keppel Offshore & Marine (Keppel O&M), a wholly-owned company of Keppel Corporation. Keppel Shipyard is the trusted industry name for the repair, conversion and upgrading of a diverse range of vessels, and a global leader in the conversion of Floating Production Storage and Offloading (FPSO), Floating Storage and Offloading (FSO) and Floating Storage and Re-gasification Units (FSRU), as well as the fabrication and installation of turrets and mooring systems, and topside process modules. As a group, Keppel O&M is also a global leader in offshore rig design, construction and repair, and specialized shipbuilding. Its near market, near customer strategy is bolstered by a global network of 20 yards and offices in the Asia Pacific, Gulf of Mexico, Brazil, the Caspian Sea, Middle East and the North Sea regions. Integrating the experience and expertise of its yards worldwide, Keppel O&M aims to be the provider of choice and partner for solutions for the offshore and marine industry. For more information, please visit www.keppelom.com
About Golar LNG
Golar LNG is one of the world's largest and most established independent owners and operators of LNG carriers with nearly 40 years of experience. The company developed the world's first Floating Storage and Regasification Unit (FSRU) projects based on the conversion of existing LNG carriers. Golar LNG leads the industry with committed FSRU projects and is progressing plans to grow its business further upstream via Floating liquefaction (FLNG). The company's strategic objective is to become an integrated midstream player in the LNG industry. For more information, please visit www.golarlng.com .
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