Sembcorp Marine (SembMarine), through its wholly-owned subsidiary, Sembcorp Marine Rigs & Floaters Pte Ltd, has been awarded master service agreements with NASDAQ-listed New Fortress Energy Inc affiliates on Oct 20.
The master service agreements are for the engineering and conversion of two Sevan cylindrical drilling vessels to Floating LNG (FLNG) liquefaction facilities, including the fabrication and integration of LNG topside modules.
The hull conversion and fabrication of topsides for the first FLNG liquefaction facility is scheduled for delivery in the first half of 2024 through the work engagement contract awarded by New Fortress Energy
Work on the second FLNG liquefaction facility project is expected to be contracted through further work engagement contracts to SembMarine at a later date.
According to SembMarine, this marks the first set of two Sevan cylindrical hulls to be re-purposed into FLNG liquefaction facilities for New Fortress Energy.
William Gu, senior vice president and head of Sembcorp Marine Rigs & Floaters Pte Ltd, says, “We are pleased and honoured to partner New Fortress Energy in its Fast FLNG programme through these two FLNG conversion projects incorporating SembMarine’s proprietary Sevan cylindrical hull design.”
“Marking SCM’s successful penetration of the FLNG market, these projects allow our customer to rapidly deploy FLNG facilities to capture the growing demand for LNG liquefaction terminals, and to tap on SembMarine’s full suite of floating and nearshore LNG solutions that are well placed to meet the needs of the burgeoning LNG market,” he adds.
Wong Weng Sun, president and CEO of SembMarine, says, “These landmark FLNG conversion projects signal the broadening of our capabilities to provide customised solutions to clients across the energy value chain. Over the years, Sembcorp Marine has advanced its engineering, procurement and construction (EPC) capabilities towards solution-driven initiatives through investments in technology companies such as Sevan SSP.”
He adds: “Our continuous research and development (R&D) efforts have also enabled Sembcorp Marine to successfully develop and commercialise our proprietary designs and solutions like this FLNG conversion and our wind turbine installation vessel (WTIV) for the cleaner energy and renewables segment awarded earlier this year.”
Wong continues: “Sevan SSP circular hull design also offers excellent solutions for the electrification of offshore hydrocarbon production units, offshore wind floating substations and converter platforms, and carbon capture, utilisation and storage (CCUS) applications.”
Shares in SembMarine closed 0.1 cent lower or 0.85% down at 11.7 cents on Oct 19.