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Wison to cooperate with Shanghai Electric on FLNG power solution

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LNG Industry,

Wison Offshore & Marine has announced it has signed a Memorandum of Understanding (MOU) on strategic cooperation with Shanghai Electric Power Generation group.

The two parties will combine their expertise in a medium to large scale floating LNG power generation barge project – with regards to its product development, global marketing and technical services. Such collaboration aims to promote the commercialisation of this new electrification solution while opening up further opportunities for Wison and Shanghai Electric to cooperate in the power sector in the future.

The agreement builds on Wison’s unique experience and integration capability in floating LNG facilities, combined with Shanghai Electric’s expertise in core gas power equipment and EPC services for international power projects. Based on the Floating LNG Storage Regasification and Power Generation (FSRP) solution previously developed by Wison, the companies 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 commercialisation of this innovative solution in the global market. The parties will focus on developing medium large-scale FSRP, and study the application of Shanghai Electric’s world class gas turbine technology and integrated generation set solution to the FSRPs, such that the product’s economy and reliability can be further enhanced. While Wison already received Approval in Principle (AiP) for its 50MW FSRP from Bureau Veritas in July, this move is significant in demonstrating that Wison has taken a solid step towards medium large scale FSRP development.

Wison is committed to providing cost-effective LNG infrastructure solutions for the natural gas industry and end-users. As the EPCIC contractor for world’s first FSRU barge, Wison eyes FSRP as a critical extension of its LNG product portfolio – one that is advantageous in project capital cost and lead time comparable to on-shore solutions. Mr. CUI Ying, CEO of Wison Offshore & Marine said, “Wison is greatly honored to join hands with Shanghai Electric, a worldwide market leader to develop FSRP products. It’s no doubt the complimentary strengths and resources of the two companies can facilitate our path forward in commercialising floating LNG power, which in turn will solidify a leading position in this emerging market.”

Shanghai Electric is well positioned in technological R&D, equipment supply, investment and management of power infrastructure. The company’s existing order backlog in power station of over RMB70 billion ranks top amongst the peers internationally. Its high profile gas turbine portfolio is further strengthened by long-term cooperation with Italian Ansaldo Energia, a well-known heavy duty gas turbine manufacturer.

Both parties have a buoyant view over power demands fueled by global economy which is largely driven by growth in developing countries, and clean power in particular has promising long-term prospects.

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