Hyundai Heavy Industries (HHI) has recently held a naming ceremony for the world's first LNG floating storage re-gasification unit (LNG FSRU), ordered from Höegh LNG in June 2011.
The 170,000m3 vessel measures 294 metres in length, 46 metres in width and 26 metres in depth, with the storage capacity of 70,000 tonnes. Once complete, the vessel will be chartered to Lithuania's Klaipedos Nafta under a long-term contract.
The naming ceremony for the vessel was held in Ulsan, South Korea. Christened 'Independence', the ceremony was attended by the President of Lithuania, Dalia Grybauskaite, as well as Mr Leif Höegh, deputy chairman of Höegh LNG.
"The LNG FSRU will play a role in supplying LNG in Lithuania and we hope to keep up the close co-operation with Lithuania for the construction and development of energy infrastructure," said Mr Lee Jai-seong, chairman and CEO of HHI.
LNG FSRUs receive liquefied natural gas from offloading LNG carriers. The installed re-gasification system provides gas send-out through pipelines to shore.
According to HHI, LNG FSRUs take a year less time to build and cost half as much as an onshore LNG terminal. The facility is also mobile, able to move from region to region under its own power.
HHI also claims it has been able to minimise operational losses for LNG FSRUs, extending maintenance cycles from five years to ten.
