ABB and Wison Offshore & Marine (WOM), a technology and solution provider focusing on clean energy, have signed a Memorandum of Understanding (MoU) to collaborate on the development and implementation of floating liquefied natural gas (FLNG) facilities worldwide.
FLNG facilities makes the production, liquefaction, and storage of natural gas possible at sea, from where it can be shipped directly to customers around the world. By optimizing and standardizing the FLNG unit design, ABB and WOM aim to significantly improve the production efficiency of LNG at sea.
WOM’s competence as a premier provider of turnkey engineering, procurement, construction, installation and commissioning (EPCIC) to the FLNG market will be coupled with ABB’s expertise in integrating electrical, control and safety systems.
Valued at over $14,187 million in 2020, the global FLNG market is projected to reach a value of over $104,281 million by 2031, growing at a CAGR of 20.1 percent.1
Mr Wei Huaqing, Assistant President of WOM said: “The FLNG market continues to grow. We are pleased to be working with ABB and look forward to leveraging our complementary expertise to deliver more value for FLNG customers around the world. By combining our bespoke offerings, we believe we can increase productivity in greenfield developments and in doing so improve overall CAPEX efficiency.”
The agreement will also utilize ABB’s unique project methodology, Adaptive Execution™, which offers customers complete visibility of their project, from start to finish, via a single, streamlined and centralized approach.
Cruise-Feng Li, head of ABB Energy Industries China, commented: “Adaptive Execution can help unlock significant project value for FLNG customers. By designing in a modular and standardized way, and testing everything in a virtual environment, we can tackle design challenges early on, boost performance and ensure reliability of the infrastructure. This enables all the parties involved in the project to achieve more in shorter timeframes, optimizing the overall delivery schedule and saving on cost.”
ABB has delivered safe and reliable power and automation solutions to over 70 floating production projects around the world.
Wison Offshore & Marine is a leading provider of clean energy technology service and solutions, is committed to providing the energy industry with highly integrated EPCIC solutions, including floating LNG facilities, modularized LNG plant, floating gas-to-power facilities, floating wind power and other clean energy solutions. Based on a track record of successful project delivery, the experienced WOM team applies its expertise in technical innovation and two world-class plants to provide EPC services that meet the highest international quality and safety standards.
ABB (ABBN: SIX Swiss Ex) is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future. By connecting software to its electrification, robotics, automation and motion portfolio, ABB pushes the boundaries of technology to drive performance to new levels. With a history of excellence stretching back more than 130 years, ABB’s success is driven by about 105,000 talented employees in over 100 countries. www.abb.com
ABB’s Process Automation business is a leader in automation, electrification and digitalization for the process and hybrid industries. We serve our customers with a broad portfolio of products, systems, and end-to-end solutions, including our # 1 distributed control system, software, and lifecycle services, industry specific products as well as measurement and analytics, marine and turbocharging offerings. As the global #2 in the market, we build on our deep domain expertise, diverse team and global footprint, and are dedicated to helping our customers increase competitiveness, improve their return on investment and run safe, smart, and sustainable operations. go.abb/processautomation
https://www.visiongain.com/report/flng-market-2021/
