Gasol, Teekay sign MoU for new liquefaction process

Gasol and Teekay have signed a Memorandum of Understanding (MoU) for the development of a new liquefaction process.

Offshore staff

LONDON -- Gasol and Teekay have signed a Memorandum of Understanding (MoU) for the development of a new liquefaction process.

Gasol, with the assistance of Teekay, has developed the concept of a near-shore LNG production system (NSPS) with a view to applying this concept to gas monetization projects in Nigeria and elsewhere in the Gulf of Guinea region. The NSPS is based on using floating modules on barges that are berthed and moored to a fixed and protected jetty. It is designed to be used in benign waters (as found in the Gulf of Guinea) in close proximity to the shore, to produce LNG, LPG, condensates, and power.

Mustang Engineering has completed a feasibility study, commissioned by Gasol, to review, evaluate, and optimize the NSPS design. Facility operation input was contributed by Teekay Gas Services. According to Gasol, the NSPS feasibility study concluded that the design is technically sound and can be designed and built to industry accepted codes and standards.

Gasol and Teekay will jointly decide when to proceed to front-end engineering design on identified gas reserves in the region. The project lead time from start of FEED to first delivery of LNG cargoes is 3.5 to 4 years, the company says. Gasol is currently in negotiations with various gas reserve owners and LNG partners/off-takers regarding the application of NSPS to emerging projects.

In case NSPS does not suit the development of a particular project, alternate floating LNG (FLNG) solutions will be considered.

02/12/2009

More in Company News