Flex LNG, Saipem ink MOU for Floating LNG project offshore Australia

Source: Flex LNG

FLEX LNG signed a Memorandum of Understanding (MoU) with SAIPEM for exclusive cooperation toward the development of a Floating Liquefaction (FLNG) project with an Asian national oil company, most likely for Thailand's PTEEP project, for their offshore gas reserves in Australia.

FLEX LNG will contribute its LNG Producer concept and its construction contracts with Samsung Heavy Industry while SAIPEM will provide its superior project management skills, as well as its outstanding combination of capabilities in the domains of Floating Production Systems and natural gas treatment and LNG liquefaction plants.

The parties intend to form a joint project team to manage the Pre-FEED and FEED work for the project. The joint team also intends to cooperate closely after Final Investment Decision (FID) for the overall management of the project to ensure successful execution of the Engineering, Procurement, Construction, Integration and Commissioning (EPCIC) phase. 

FLEX LNG also sees the cooperation with SAIPEM as a promising starting point for the two companies to cooperate closely on other FLNG projects."

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