OFFSHORE LNG RECEIVING TERMINALS With emphasis on FLOATING STORAGE AND REGASIFICATION UNITS (FSRUS)

As the future of gas in the decarbonizing global energy economy is established, the opening of new, and likely small, markets will be crucial. Many of these new markets will not have access to existing gas infrastructure and will not possess the desire or the confidence in future demand levels to construct significant onshore facilities to receive LNG and re-gasify it. As a result, for those countries with access to the sea, the availability of flexible, floating storage and regasification units will be vital to reduce the early risks of gas market development. Indeed, offshore LNG terminal especially FSRUs can even catalyze the movement towards gas-to-power projects that are becoming increasingly popular today.
Rising demand for LNG creates the incentive for new import facilities given that existing facilities, even considering planned expansions, are not projected to provide enough capacity to handle the eventual volumes of imported LNG. Additionally, diversity of geographic locations and proximity to demand centers create added incentives for new terminals.
Given increasing customer requests for more flexible, and shorter term, gas purchase contracts, and the increasing uncertainties surrounding the future of gas demand in a world where renewables and coal continue to provide stiff competition, it is clear that the gas industry will need to be innovative if it is to prosper. The development of FSRUs is an example of one such innovation.