June 6 - Certification company Lloyd's Register (LR) has released its new Rules for Floating Offshore Installations at a Fixed Location (FOIFL) - which includes new sections on floating liquefied natural gas (FLNG) facilities.
Lloyd's Register has issued its guidelines on the design, construction and operation of FLNG facilities, based on real-world experience and work with key industry figures.
According to Mark Tipping, principal engineer for FLNG development at Lloyd's Register: "FLNG facilities are being designed to extract gas reserves which have been discovered in some of the world's deepest waters, answering society's demand for the provision of more 'carbon-lite' energy sources.
"The FLNG facilities we have worked on to form these Rules will be the biggest floating structures ever seen and in the future, they will allow operators to unlock the world's stranded offshore natural gas reserves in areas like North Western Australia's Browse Basin."
Natural gas prices are set to vary between countries in the future, thus FLNG facilities will be needed to supplement pipelines in the transportation of natural gas. Furthermore, the energy industry will require effective storage solutions as demand for natural gas fluctuates.