ABS (American Bureau of Shipping) has granted a principle approval for the standard design of a Floating Liquefied Natural Gas (FLNG) vessel to Hanwha Ocean. This approval represents progress in the design and execution of liquefied natural gas projects, which can lead to reduced engineering time and improved predictability in project execution.
Details of the FLNG Design
The standardized FLNG design by Hanwha Ocean is developed based on a single platform that can be utilized in multiple projects. This approach allows the company to reduce initial engineering times and enhance overall project efficiency. With the implementation of this design, greater efficiency is expected in the execution processes.
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Impacts and Consequences
Matt Trimble, Senior Vice President of Global Markets at ABS, stated: "Standard designs have the potential to improve stability and predictability in the development of complex FLNG projects. We are proud to support Hanwha Ocean in advancing the platform-based approach to facilitate engineering and project execution." This design could be particularly impactful in the deep-water markets of South America and West Africa, which Hanwha Ocean is focusing on.
This approval allows Hanwha Ocean to move to the next stage of developing its FLNG projects, while ABS will act as a trusted partner throughout all stages of the asset lifecycle, from concept development and design review to construction and operation.
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