FLNG capex to reach $58.3 billion to 2021

Offshore staff

CANTERBURY, UK – Capex for FLNG vessels is estimated by Douglas-Westwood to reach $35.5 billion during 2015-2021. FSRU capex is forecast at $22.8 billion for the same time period. That makes the overall FLNG spending $58.3 billion for the period as predicted in World FLNG Market Forecast 2015-2021.

The delivery of Petronas’ PFLNG 1, also known as the PFLNG SATU, will put the world’s first FLNG vessel into operation by the end of 2016.

This will be followed by Shell’s Prelude FLNG vessel, a significantly larger project and one that is likely to shape future FLNG developments. Construction of the 488 m- (1,601 ft-) long facility started in 2012 at Samsung in Korea and is expected to start up by 2017.

Following these projects is a second wave of new projects that are yet to be sanctioned but are expected to drive a growth in expenditure from 2019 onwards. This includes major projects in frontier regions such as East Africa.

DW anticipates more floating regasification units are to be sanctioned, with Asia and Latin America being the dominant regions. Upcoming projects are visible in Indonesia, China, Pakistan, India, Vietnam, Bangladesh, and Sri Lanka, mostly led by national oil companies. Latin America will see deployments of floating regassification units in Chile and Puerto Rico.

7/23/15

(Photo courtesy Petronas)

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