Research and development moves rapidly in the oil and gas industry. However, few could have foreseen the pace at which floating LNG (or FLNG) vessels are now becoming "commoditised".
The technology that has enabled this development is the retro fitting by major vessel operators of existing LNG carriers with topsides using established liquefaction processes (typically from either Air Products or Black and Veatch). This 'commoditised' market is now gathering momentum, with one project operational and a number of others proceeding to FID.
We look at the development and financing of the next generation of FLNG vessels, which are significantly cheaper and quicker to deploy than the highly bespoke (and expensive) vessels deployed to date by a number of the majors. Now that the first of these vessels has been successfully financed and deployed, we have seen significant client interest.
Dentons is the world's first polycentric global law firm. A top 20 firm on the Acritas 2015 Global Elite Brand Index, the Firm is committed to challenging the status quo in delivering consistent and uncompromising quality and value in new and inventive ways. Driven to provide clients a competitive edge, and connected to the communities where its clients want to do business, Dentons knows that understanding local cultures is crucial to successfully completing a deal, resolving a dispute or solving a business challenge. Now the world's largest law firm, Dentons' global team builds agile, tailored solutions to meet the local, national and global needs of private and public clients of any size in more than 125 locations serving 50-plus countries. www.dentons.com.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.