China-based Wison Offshore & Marine has completed the final delivery for the world’s first barge-based floating natural gas liquefaction and storage facility, the Caribbean FLNG.
Prior to the delivery, the contracts for project financing provided by Bank of China, Deutsche Bank and supported by China Export & Credit Insurance Corporation have just been officially signed.
Wison undertook the Caribbean FLNG project under an engineering, procurement, construction, installation and commissioning (EPCIC) contract with Exmar. With a liquefaction capacity of 500,000 tons a year, the FLNG successfully completed its performance test at Wison’s yard in Nantong, China in September last year. This marks for the first time in history that LNG has been produced onboard a floating facility as well as the first time that a floating liquefaction unit has completed a gas trial and performance tests before sail-out.
Wei Huaqing, project manager for the Caribbean FLNG project, commented: “The project not only cemented Wison’s leading position in turnkey projects of floating LNG production, storage and transportation facilities around the world, but also showcased the market a cost-effective and reliable floating liquefaction solution that could help clients to monetize their gas asset more efficiently.”