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FLEX LNG is an innovative company founded with the purpose of bringing LNG production offshore by commercialising the world’s first floating LNG production units (FLNG). The LNG industry has been constrained by slow development of new supply due to delays in onshore developments resulting from escalating engineering, procurement and construction costs  as well as political uncertainty. 

 

The LNG Producer (LNGP) developed by FLEX LNG is a self-propelled offshore LNG production vessel. It is designed to pre-treat, liquefy, store and offload LNG. The feed gas can be supplied either directly from a natural gas field, from a wellhead platform, as associated gas from a nearby oil FPSO, or from an onshore natural gas source or pipeline.

FLEX LNG's LNGP will provide additional supply of LNG to the world market within an attractive timeframe. The LNGP benefits from a very attractive construction time compared to large onshore projects.  It enables the un-locking of natural gas resources that until now have been commercially “stranded” and maybe most importantly: the solution will provide a lower CAPEX per ton of LNG production compared to onshore plants.

 

The overall design principle for the FLEX LNG LNGP has been to maximise the use of proven and robust technologies to achieve a safe and reliable concept. Focus has been on simplifying the design and removing unnecessary complexity for successful implementation of onshore technology in a marine environment.

 

By developing the world’s first FLNG production unit, FLEX LNG takes a leading role in providing floating liquefaction capacity to the world market.

 

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FLEX LNG 2012 Annual Report and Financial Statement

Road Town, Tortola, 06 March 2013. FLEX LNG (Oslo Axess: FLNG) would like to provide shareholders with a brief update regarding the ongoing dispute with Samsung Heavy Industries (“SHI”).

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