Japan’s MOL and South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) have entered into an agreement to jointly develop a new technology to reduce the environmental impact for floating storage and regasification units (FSRUs).
The new technology named Cryo-Powered Regas uses LNG cold energy, which used to be disposed, as power generation energy by adopting the organic Rankine cycle in the regasification process of an FSRU.
The companies expect the technology to help reduce fuel consumption and CO2 emissions of FSRUs significantly.
MOL and DSME plan to test the technology in a small-scale pilot facility this year and provide the technology to customers in future FSRU projects.
“FSRUs are drawing attention as a solution for flexibility and mobility in both the LNG and electricity supply chain. MOL will promote the FSRU business and its associated services, which meets customer needs for diversified energy procurement and SDGs achievement,” MOL said in a release.