Bumi Armada secures ABS AIP for floating LNG solution
Malaysia's Bumi Armada has secured approval in principle (AIP) from the American Bureau of Shipping (ABS) for its floating LNG (FLNG) infrastructure solution, it said on October 11 in a stock exchange filing. This new concept FLNG incorporates a newly built barge-based liquefaction unit and the utilisation of existing LNG carriers for storage.
Bumi Armada has developed the barge-based liquefaction unit for a standardised LNG design capacity based on having a modularised and repeatable compact design. This concept allows for a phased approach to deploy parallel liquefaction units to match any required capacity for the monetisation of gas, eliminating the need for large and costly onshore infrastructure, the company said.
Reusing LNG carriers is expected to provide a safe and quality option for LNG storage. Bumi Armada said that this streamlined approach will yield substantial time and cost savings.
"We are committed to bringing innovative and sustainable solutions that can accelerate the delivery of cleaner energy. This technology is a testament to our strong commitment towards providing the best solutions that unlock the pathway to achieve net zero by 2050, which is in Bumi Armada’s decarbonisation agenda," Gary Christenson, Bumi Armada’s CEO, said.
Bumi Armada last month signed a non-binding agreement with Indonesian companies Pertamina International Shipping and Davenergy Mulia Perkasa (DMP) to develop and commercialise LNG from the Madura gas field and its surrounding fields off East Java.