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Japan to consider FLNG options

LNG Industry,

The Japanese government will evaluate floating LNG options at the FLNG Asia Pacific Summit taking place in October, in Seoul.

Ryo Minami, Director of Oil and Gas, at Japan's Ministry of Economy, Trade and Industry (METI) will be delivering a keynote address on the Japanese government's policies for LNG demand and development and its impact on FLNG projects at the summit.

Japanese demand

Following the recent deal between Inpex Corp and Tokyo Electric Power Company and Shizuoka Gas Company to purchase gas from the former via the FLNG Prelude project, FLNG has been seen as a viable alternative to ease LNG demand in Japan.

Moreover, stranded gas fields offshore can now be accessed and monetised through small and near-shore FLNG developments, a trend that is gaining ground in the industry, with Exmar/Pacific Rubiales Energy's Pacific Rubiables project set to go into operation in Q2 2015.

FLNG challenges

One of the challenges facing FLNG projects is the lack of interaction and dialogue between offtakers, molecule providers, financiers, shipyards and EPCs over the spreading of risks and performance guarantees. The industry also lacks a code of standards and benchmarks for the execution of novel technology.

To overcome these issues and facilitate interaction with oil operators, regulators and offtakers, key stakeholders including KBR, Exmar, Hoegh FLNG, MODEC, Bumi Armada, Black & Veatch, and WorleyParsons, will be taking part in the summit.

Key issues including small-mid scale FLNG economics, successful FLNG execution and moving from concept to FID will be covered over the two-day summit.

Adapted from press release by Katie Woodward

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