Wison Offshore & Marine will collaborate with China Classification Society (CCS) Wuhan Rules & Research Institute on various fronts of floating LNG storage and regasification facility (FSRU) developments in China.
Under a strategic cooperation agreement, the parties said they would embark on a wide range of joint efforts in development and optimization of FSRU products, formulation of relevant technical standards, design and review, joint research of new technologies, exchange of knowhow and talent development for the industry.
Further to improving China’s FSRU construction standards, such cooperation is set to promote commercial application of floating LNG solutions in the country, nurturing LNG development in this market.
China has been hit by gas-supply shortages this winter triggered by accelerated shift away from coal as environmental requirements become increasingly stringent. In consequence, domestic LNG prices have risen sharply. To foster the competitiveness of natural gas in China’s energy landscape for steady growth in the longer term, “the industry urgently needs expedited build-up of industry standards and value chain,” Wison said.
“We’re delighted to partner with CCS Wuhan Rules & Research Institute whose strengths in technical research can be leveraged in our joint contributions to the formulation of FSRU technical standards in China. We hope floating LNG import solutions that have been widely adopted in global market can better serve Chinese market, offering a more flexible and economical option to access LNG supply,” Ying CUI, CEO of Wison Offshore & Marine, said.