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Reports from South Korea suggest that the recent announcement regarding the deal between Anglo-Dutch supermajor Shell and a joint venture between Technip and Samsung Heavy Industries to build floating liquefied natural gas (FLNG) facilities could be worth around US$50 billion.
The deal will see the Technip-Samsung joint venture build 10 of the huge vessels for Shell over a period of 15 years.
In an email sent to ArabianOilandGas.com a spokesperson from Shell said that the company was not disclosing the cost of the contract to the media.
The FLNG vessel will allow the Anglo-Dutch supermajor to place gas liquefaction facilities directly over offshore gas fields. The company hopes that giving gas producers a cheaper alternative to using pipelines and onshore liquefaction infrastructure will pay off in the long term.
The FLNG concept's key dimensions are approximately 450 metres x 70 metres, with a 3.5 mtpa LNG capacity, plus associated LPG and condensate production; taking total liquid production potential to over 5 mtpa.
Topsides weight is estimated in excess of 50,000 tonnes. Shell’s FLNG design is suitable for more distant offshore fields, designed to operate under harsh conditions and process a wide range of gas compositions.
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