ABB And Wison Offshore & Marine in FLNG Tie-Up
Automation major ABB has signed a memorandum of understanding (MoU) with the technology services provider Wison Offshore & Marine (WOM) to jointly develop and implement floating liquefied natural gas (FLNG) projects worldwide.
FLNG facilities make the production, liquefaction, and storage of natural gas possible at sea, from where it can be shipped directly to customers around the world. By optimizing and standardizing the FLNG unit design, ABB and WOM aim to significantly improve the production efficiency of LNG at sea.
WOM’s competence as a premier provider of turnkey engineering, procurement, construction, installation, and commissioning (EPCIC) to the FLNG market will be coupled with ABB’s expertise in integrating electrical, control, and safety systems.
Valued at around $14.2 billion in 2020, the global FLNG market is projected to reach a value of over $104.3 billion by 2031, growing at a CAGR of 20.1 percent.
“The FLNG market continues to grow. We are pleased to be working with ABB and look forward to leveraging our complementary expertise to deliver more value for FLNG customers around the world. By combining our bespoke offerings, we believe we can increase productivity in greenfield developments and in doing so improve overall CAPEX efficiency,” said Wei Huaqing, Assistant President of WOM.
The agreement will also utilize ABB’s unique project methodology, Adaptive Execution, which offers customers complete visibility of their project, from start to finish, via a single, streamlined, and centralized approach.
“Adaptive Execution can help unlock significant project value for FLNG customers. By designing in a modular and standardized way, and testing everything in a virtual environment, we can tackle design challenges early on, boost performance and ensure the reliability of the infrastructure. This enables all the parties involved in the project to achieve more in shorter timeframes, optimizing the overall delivery schedule and saving on cost,” adds Cruise-Feng Li, head of ABB Energy Industries China.
ABB has already delivered safe and reliable power and automation solutions to over 70 floating production projects around the world.
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