Sevan acquires technology rights

Sevan Marine ASA has obtained the technology rights of TORP LNG AS and its affiliates. The acquisition gives the company ownership of the proprietary HiLoad technology for offshore loading of liquefied natural gas (LNG). This technology was originally developed for offshore loading of crude oil and the technology rights related to loading of oil remains with Remora. The first HiLoad unit, owned by Teekay Offshore, is shortly due to commence operations offshore Brazil.

Sevan Marine, best known for its cylindrical FPSOs, drilling units and lately accommodation rigs via Logitel Offshore, has developed a floating LNG (FLNG) platform based on the cylindrical hull shape, which eliminates the need for expensive turret and swivel solutions.

Because of the extremely cold temperature of LNG, offshore loading of it has been complicated and potential operators of FLNG units have been seeking new, safe and cost efficient solutions. With the acquisition of TORP LNG, Sevan Marine intends to provide the market with a safe solution for offshore transfer of LNG. A new Sevan Marine subsidiary, HiLoad LNG AS, has been incorporated and is offering the HiLoad technology for offshore LNG transfer as a stand-alone solution for any FLNG unit, or in combination with Sevan’s cylindrical FLNG unit.

Adapted from press release by Ted Monroe

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/04022014/sevan_marine_acquires_technology_rights_of_torp_lng_and_its_affiliates/