Marubeni Corp, the Japanese trading house and importer of liquefied natural gas (LNG) has announced that it will step up construction of floating import terminal projects for receiving and processing LNG, seizing on growing demand in emerging markets.
The company explained that together with its partner, GDF Suez, it has signed an agreement worth approximately 100 billion yen (US$ 1 billion) to build and operate a facility for a state-affiliated energy company in Uruguay.
Marubeni is also planning to develop similar facilities in other countries. The joint facility between GDF Suez and Marubeni is scheduled to start operations by 2015 near the Uruguayan capital of Montevideo.
The two companies have signed an agreement with local company Gas Sayago for a period of 15 years. The facility will be named GNL del Plata, and will comprise an FSRU (floating storage and regasification unit) and a jetty, protected by 1.5 km of breakwater.
In a statement issued by the company, Marubeni explained: “While these import plants are typically built on land, Marubeni plans to position terminals offshore using modified ships equipped with storage tanks and regasification equipment.
“The company aims to cut construction time in half to around two years and reduce costs by 30-50%.
Emerging market demand
“Demand from emerging markets is driving growth in the global LNG market. Worldwide, more than 50 projects to build floating LNG platforms are in various stages of development, the bulk of which are earmarked for new markets.
At approximately 120 000 t, the Uruguayan FLNG’s storage capacity is expected to be one of the largest in the world.
Edited from various sources by Katie Woodward
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/20012014/marubeni_to_build_flng_terminal_62/