LNG projects offer alternatives for OSV owners

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Dreifa Energy is pressing ahead with a plan to convert a platform supply vessel into a floating regasification unit for liquefied natural gas as another offshore vessel owner seeks to enter the FLNG market

Dreifa Energy’s floating regasification unit (FRU) concept, which is based on a converted platform supply vessel (PSV), has been granted approval in principle by DNV GL. December 2017 also saw the company enter into an agreement with Wärtsilä Oil and Gas Systems to secure delivery of the regasification module for the first Dreifa FRU.

Entering into the agreement is a significant step forward for Dreifa Energy in confirming a key part of the overall capital expenditure for the FRU. Moreover, the recent approval in principle granted by DNV GL and the agreement with Wärtsilä enable Dreifa Energy to execute on a fast-track project schedule by securing the long lead items for the company’s first FRU conversion project.

Dreifa’s FRU consists of a regasification plant and associated utility systems located on the deck of a former PSV acquired by the company. The FRU operates in combination with a liquefied natural gas (LNG) carrier acting as a floating storage unit.

Approval in principle by DNV GL was based on an examination of the basic engineering package developed by Dreifa Energy’s efforts to be prepared to enter into contracts for equipment and conversion. Earlier this year, Dreifa Energy acquired the 1983-built Blue Star Line PSV Blue Betria, aiming to convert it into an LNG FRU.

The company’s floating regasification concept is aimed at the market for mid-scale LNG imports. At the time that it acquired the vessel, Dreifa said it was working to secure a firm charter contract, aiming to reach a final investment decision on this first FRU conversion by the end of 2017.

Offshore vessel owner Swiber Holdings, which remains under judicial management, has signed a supplemental term sheet with Australia’s Interlink Power & Energy. In late 2017, the company said it hoped to enter the floating LNG (FLNG) segment.

In December 2017, Swiber said that, notwithstanding the expiry of an exclusivity period on the first term sheet it had signed with Interlink Power & Energy, discussions between the companies in relation to the proposed acquisition remain ongoing. The terms outlined in the supplemental term sheet will expire on 31 March 2018 or such later date as may be mutually agreed by them.

As highlighted in the December 2017 issue of OSJ, describing a deal that it said “could be a step towards reviving the company as a going concern,” Swiber Holdings said it had been considering diversifying into the LNG segment for some time and that it had been working towards entering the FLNG segment for more than a year before it entered into judicial management in October 2016.

Jumbo signs LOI for LNG-powered construction vessel

The Netherlands-based Jumbo has signed a letter of intent with China Merchants Industry Holdings for detailed engineering and construction of a dynamic positioning class 2 heavy-lift crane vessel. Due to be delivered in Q1 2020, the new vessel is designed with Ulstein Design and Solutions BV and will work in the offshore oil and gas and offshore wind industries.

It will combine economic operations and efficiency with what Jumbo described as “the highest quality and safety features”. Environmental considerations and improved fuel efficiency are also key features of the design, which will be powered by dual-fuel engines with the ability to run on LNG. The hull will have the Ulstein X-BOW, which will enhance workability. With a length of 185 m and breadth of 36 m, the ship will be the largest X-BOW vessel in the world. The vessel will be fitted with two offshore mast cranes with a lifting capacity of 2,200 tonnes and 400 tonnes, respectively, each rated for operations to a depth of 3,000 m.

Source: 
osjonline
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