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Honghua Group enters into offshore LNG platform construction HOA

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LNG Industry,

Honghua Group Ltd has announced that its wholly owned subsidiary, Shanghai Honghua Offshore Oil and Gas Equipment Co. Ltd, has entered into an offshore LNG platform construction Heads of Agreement (HOA) with Argo LNG Partners LLC. The agreement is valued at approximately US$1.8 billion.

At the recent Sino-US LNG industry development seminar, held in Beijing, China, Honghua Group announced the ‘Sino-US Integrated Solution to LNG Industry’, along with Sino-US companies including GE, Braemar, Wood Group and China Aerospace.

Alongisde these partners, Honghua introduced fixed platform technology into LNG factory design and developed the offshore LNG platform. The platform has several advantages, including the fact that it can be established in US federal waters to avoid an approval period of several years. It can be designed as a fixed or movable platform with high flexibility to adjust its layout according to global resources market. The first offshore LNG platform will be delivered to clients after modular manufacture, installation and debugging under EPC model with the Honghai crane in the Honghua Offshore factory.

The first offshore LNG platform is scheduled to be installed in the US Gulf of Mexico. It will take two to three years to complete the construction, which will include four production platforms, four storage platforms, one accommodation platform, one central processing platform, and a pier which is available for LNG carriers with a capacity of 30 000 to 260 000 m3 LNG. The designed LNG processing capability and storage capability is a maximum of 3.6 million tpy.

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