Petronas’ PFLNG 1, also known as the PFLNG SATU, happens to be the world’s first FLNG vessel. It is all set to start its operations on its completion by the end of 2016, followed by Shell’s Prelude FLNG vessel, a noteworthy project in size. The vessel is likely to shape the future FLNG developments.
In addition to the existing projects, the second leg of projects, yet to be approved is expected to push the growth in expenditure from 2019 onwards. The majority of the projects are to take place in frontier regions such as Australasia, Asia, Gulf of Guinea, East Africa and the East Mediterranean.
Douglas-Westwood analyst, Ben Wilby, says, “The application of LNG technology offshore has been proposed and studied within the industry for more than 30 years so there is intense industry interest in the first applications. The success of these first pioneering projects will no doubt impact future commitments by operators to FLNG developments.”