Singapore: Pointing to a possible new business strand, Sembcorp Marine has entered into an agreement to acquire a 12% stake in Norway’s GraviFloat for $4m, with a right to increase its stake up to 20% by further equity injection. GraviFloat was formed to design, deliver and operate redeployable, gravity-based, modularised LNG and LPG terminals for installation in shallow waters. The terminals can be built in shipyards.
GraviFloat’s near-shore LNG terminals are designed to be installed in shallow waters and are fully fixed to the seabed when in operation. GraviFloat LNG terminals can be designed for a variety of purposes and at almost any size. They can be designed as an LNG receiving and regasification capacity liquefaction terminal, as a mobile unit for stranded gas production and liquefaction, or for temporary production of associated gas to support oil production, to name a few more common applications.
Harald Vartdal, ceo of GraviFloat, said: “The GraviFloat system is developed as a cost effective solution to meet the trend toward natural gas fueling and is expected to help accelerate the build-out of natural gas terminal infrastructure, particularly in near-shore locations.”
The GraviFloat technology, which is patent pending, allows the LNG terminal to be fully built and completed at a shipyard and installed in shallow waters to facilitate direct ship loading of LNG. The GraviFloat terminals are, according to a SembCorp Marine release, a more cost-competitive solution compared with FSRUs and land terminals and can be designed for both liquefaction and receiving terminal services. [02/06/14]