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    ABB, China's Wison eye FLNG projects

Summary

Sweden’s ABB and China’s Wison Offshore & Marine (WOM) have signed a memorandum of understanding to develop floating LNG (FLNG)...

by: Shardul Sharma

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ABB, China's Wison eye FLNG projects

Sweden’s ABB and China’s Wison Offshore & Marine (WOM) have signed a memorandum of understanding to develop floating LNG (FLNG) facilities worldwide, ABB said on June 9.

“FLNG facilities make the production, liquefaction, and storage of natural gas possible at sea, from where it can be shipped directly to customers around the world,” ABB said. “By optimising and standardising the FLNG unit design, ABB and WOM aim to significantly improve the production efficiency of LNG at sea.”

WOM’s competence as a provider of turnkey engineering, procurement, construction, installation and commissioning to the FLNG market will be coupled with ABB’s expertise in integrating electrical, control and safety systems.

Valued at over $14.2bn in 2020, the global FLNG market is projected to reach a value of over $104bn by 2031, ABB said.