First Floating LNG Facility Reaches a Milestone

Wison Offshore & Marine Ltd., the company spearheading a project to bring the world's first floating liquefied natural gas (LNG) facility  to the Caribbean region has reached a milestone last week when the company announced they have installed three LNG storage tanks into the hull of the first non-propelled barge, which is being built in China. The project is expected to be operational in the first quarter of 2015.?

The LNG barge, when completed, will be towed to the coast of Columbia where it will liquefy natural gas coming from pipelines onshore. A floating LNG facility is seen as an efficient way to export the energy resource compared with an onshore export facility, since the floating LNG facility has the advantage  of easily liquefying, storing and transferring LNG to tankers out at sea, which helps to move LNG quickly out to the market. To read more, click HERE.