FRSU Deal Between Norway's Hoegh LNG and Australian Industrial Energy

A long-term charter deal has been signed between Australian Industrial Energy (AIE) and Norway's Hoegh LNG regarding Floating Storage and Regasification Unit (FSRU). There is also a collaboration between them to use green hydrogen and the design and development of a new generation FSRU capable of operating on hydrogen.

An FSRU, built-in 2019, is secured to the port Kembla Energy terminal, with the construction of berths for said terminal already underway by the AIE. This project is said to begin operations by mid-2023. Plans for the new generation FSRU have already been unveiled, and the feasibility testing for this is set to begin. The final design for the FSRU is still in the pipelines, but the larger outline of its use of both LNG and Hydrogen is confirmed.

Höegh LNG's current FSRU fleet consists of ten vessels: HOEGH ESPERANZA, HOEGH GANNET, and HOEGH GIANT, to name a few.

An existing carrier ship may be explicitly modified to serve as an FSRU; an onboard regasification system can supply natural gas to shore via pipelines. FSRUs are at the receiving end of the logistics chain; they receive liquefied natural gas and convert it to ambient temperature and pressure for it to be supplied. They are an integral part of the LNG supply chain when it comes to extracting energy. This approach can be much more cost-effective and efficient than land-based installations serving the same purpose.

To see a cost-benefit analysis of LNG in maritime shipping, visit our Blog.

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