Qatar Petroleum, along with several leading international LNG players, signed a multi-party agreement with LNT Marine, the American Bureau of Shipping (ABS), and Shanghai Waigaoqiao Shipbuilding (SWS) to collaborate on the development of new medium and large liquefied natural gas (LNG) carrier designs.
The agreement paves the way for the establishment of a Joint Industry Project (JIP) that targets the development of new LNG carrier designs utilizing the LNT A-BOX® LNG cargo containment system. Other signatories to the Agreement include Qatargas and affiliates of ConocoPhillips, ExxonMobil, Shell and Total.
The LNT A-BOX LNG cargo containment system is a new design that has recently been deployed on the 45,000 m3 new built ABS-classed vessel ‘Saga Dawn,’ which entered commercial service in the second quarter of 2020.
Commenting on the agreement, His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President & CEO of Qatar Petroleum said: “We are pleased to collaborate with LNT Marine, ABS, and SWS to introduce new designs utilizing innovative technologies to the LNG shipping industry. With this signing, Qatar Petroleum reaffirms its commitment to the continuous improvement of the LNG industry by supporting new concepts and encouraging innovation in areas that benefit the industry as a whole, in a safe and economic manner.”
His Excellency Mr. Al-Kaabi added, “Competition is critical for technology advancement, and we are pleased to play an active role in this regard with our industry partners.”
LNG cargo containment systems are highly specialized and have experienced few improvements over the past decades. LNT Marine is a technology provider and innovator within the LNG sector, developing gas carriers and cryogenic insulation systems for marine applications. LNT A-BOX introduces a step change in LNG containment systems and demonstrates the potential to improve LNG transportation economics in the coming years.
David Wu, LNT Marine’s Founder and Chairman, said, “We are very pleased to cooperate with Qatar Petroleum and other market leaders in the LNG industry, to support new technology development for the next wave of LNG carriers. Based on our decade of hard work and today’s cooperation with Qatar Petroleum, Qatargas and the other distinguished international partners, including ABS and SWS, we have confidence in our ability to develop state-of-the-art LNG carrier designs with the LNT A-BOX® containment system to accommodate the future shipping requirements of the LNG industry.”
ABS, a leading global provider of classification and technical advisory services to the marine and offshore industries, is committed to setting standards for safety and excellence in design and construction.
“ABS has a proud track record of supporting innovation in gas carrier development and we are delighted to be able to add this exciting project to that list,” said Patrick Janssens, ABS Vice President, Global Gas Solutions.
SWS is a subsidiary of China State Shipbuilding Corporation with extensive experience in vessel and offshore structure construction.
Source: Company Press Release