Page 11 - GLNG Week 47 2021

GLNG NEWS IN BRIEF GLNG

Woodfibre LNG awards EPFC new standard for efficient plant design. This
AMERICAS achievement in the world of LNG, and sets a
New Fortress Energy contract to McDermott next-generation LNG production is in high
demand. Woodfibre LNG has two offtake
announces credit rating Woodfibre LNG has signed an engineering, agreements signed with BP, meaning over 70%
of Woodfibre’s annual throughput has already
procurement, fabrication and construction
upgrade by S&P Global (EPFC) contract with McDermott been sold.
International. The EPFC contract is an
McDermott’s industry-leading NetZero
Ratings important step in advancing detailed Modular LNG strategy has been fully utilised
engineering and construction scheduling
during the development of this advanced
New Fortress Energy today announced that work in advance of Woodfibre LNG issuing a onshore gas processing and liquefaction
S&P Global Ratings has upgraded NFE’s notice to proceed. facility with floating storage near Squamish,
issuer credit rating to ‘BB-’/Stable Outlook Responsibly produced natural gas is a British Columbia, Canada. The strategy
from ‘B+’. necessary part of making a successful global provides multiple pathways through design,
S&P based the rating upgrade on NFE’s transition from heavy-emitting fuels to execution and construction to reduce
growing cash flow as it supplies LNG volumes renewables. By harnessing the low-carbon operational and project emissions.
across a more diversified asset base. In the gas resources of British Columbia’s Montney MCDERMOTT INTERNATIONAL, November 23,
year since NFE’s previous ratings forecast, region to replace coal-fired energy sources 2021
the Company has expanded its presence in Asia, Woodfibre LNG will reduce global
from 3 terminals serving 37 customers to 11 emissions by 3.5mn tonnes CO2e per annum,
terminals operating or under development equivalent to removing 5% of BC’s annual ASIA
serving over 100 customers across 11 markets emissions from the atmosphere each year.
through acquisitions and advancement of McDermott and Woodfibre’s collaboration Keppel awarded FSRU
projects in Brazil, Mexico and Nicaragua. on front-end engineering and facility design,
“We are pleased to have been upgraded relative to typical LNG facilities, is expected conversion and FPSO
by S&P Global Ratings and their recognition to result in a reduction of approximately 86%
that our terminals continue to add long of the carbon dioxide emissions per tonne of integration work worth
term, reliable and growing cash flows to our LNG produced.
strong operational performance,” said Wes Woodfibre LNG will be the cleanest around S$200mn
Edens, Chairman and CEO of NFE. “Access liquefied natural gas export facility on
to credit is increasingly important in securing earth, achieved through the adoption of Keppel Offshore & Marine, through its wholly
long term gas contracts to serve our growing a low-emission philosophy across every owned subsidiary Keppel Shipyard, has been
customer base and improved ratings are element of engineering and design. The awarded work for the conversion of a floating
meaningful to our core business. We expect facility will use hydroelectricity for the main storage and regasification unit (FSRU) and the
continued significant organic growth through liquefaction process, and includes state of integration of a floating production storage
our existing terminals and new terminals in the art technology that enables liquefaction and offloading vessel (FPSO).
Brazil, Ireland and Sri Lanka will add to our machinery to restart without flaring, a For the first project, Keppel Shipyard has
ability to support our customers’ transition to recycling system for “boil-off” gas, and inked a limited notice to proceed (LNTP) with
cleaner energy and generate additional cash additional transformers, switchgear and a global provider of LNG shipping services to
flow over the next 12 to 18 months.” transmission lines. Altogether, this results commence early works for the conversion of
NEW FORTRESS ENERGY, November 22, 2021 in the most ground-breaking technical a Liquefied Natural Gas (LNG) Carrier into
an FSRU.
The scope of the LNTP includes
engineering work commencing in 4Q 2021,
with the Full Notice to Proceed (FNTP) for
the remainder of the work expected within
1Q 2022 when the project reaches final
investment decision.
For the second project, Keppel Shipyard
has received a Letter of Award (LoA) from
BW Offshore, a fully owned subsidiary of the
BW Group, to undertake the integration work
on a newbuild FPSO. The formal contract
signing is expected by early 2022.
Keppel Shipyard will be responsible for the
integration of about 35,000 tons of topside
modules and a turret. Additional options are
available for the fabrication of structures such
as a flare tower.
The total value of the two projects is
expected to be around S$200mn, including
the FNTP. Further announcements will be

Week 47 26•November•2021 www. NEWSBASE .com P11