Petronas Names Its First FLNG
Petronas’ first floating LNG facility (FLNG) officially received its name on Friday.
The PFLNG SATU was named at a ceremony held by Petronas, together with its strategic partners Daewoo Shipbuilding & Marine Engineering (DSME) and Technip, at the DSME shipyard here in Okpo, South Korea.
The PFLNG SATU is 360 meters (1,180 feet) long and 60 meters (197 feet) wide. It will be moored at Malaysia’s Kanowit gas field, 180 kilometers (112 miles) offshore Sarawak and has the capacity to produce 1.2 million tons of LNG per year. It will play a significant role in Petronas’ efforts to unlock the gas reserves in Malaysia's remote and stranded fields.
Petronas’ President and Group CEO, Datuk Wan Zulkiflee Wan Ariffin said that the floating LNG facility signified a breakthrough achievement not only for the company but also for Malaysia.
“The PFLNG SATU is a testament to the engineering capabilities of Petronas and its partners. Today, we have pushed the boundaries and turned our technological aspirations of having an LNG plant on a floating vessel into reality,” added Datuk Wan Zulkiflee.
The PFLNG SATU is expected to be ready to sail away in the second quarter of 2016.
FLNG technology is considered a game changer in the global LNG business as it paves the way for opportunities to monetize gas resources from remote, marginal and stranded fields, which would otherwise be uneconomical to develop via conventional means.
Earlier this week, Petronas announced that it would cut spending in 2016, a move that will impact the company’s current projects. “At this point, we have taken the decision to re-phase the Petronas Floating LNG 2 project, to be commissioned at a later date than originally planned,” Datuk Wan Zulkiflee said.
This second FLNG is being built by Samsung Heavy Industries and is destined for the Rotan field, 130 kilometers (81 miles) offshore Sabah, Malaysia.