BW Heads to Samsung Heavy for LNG Regas Vessel

Samsung Heavy Industries confirmed today $300 million in newbuild orders have been placed for a pair of product tankers and a Liquefied Natural Gas Floating Storage Regasification Unit (LNG-FSRU).

The LNG-FSRU deal was signed by Singapore-based BW Shipping on 29 November and is scheduled for delivery in 2016. The FSRU is the second such order this year and will feature DFDE engines and a direct seawater cooling regasification system according to a statement by Yngvil Ashiem, Managing Director of BW Shipping.

The two product tankers were ordered by an undisclosed European shipowner.

As the name suggests, FSRUs are designed to load LNG into its onboard storage tanks, regasify the fluid, and transfer it to a shore-side pipeline network.  Such a facility is a more flexible option for locations that perhaps may only have a relatively short term need for LNG imports, or is lacking the substantial (and expensive) shoreside facilities needed to store LNG.