Singapore-based Keppel Offshore & Marine says converting an old LNG carrier into a floating LNG producer saves approximately 33% of greenhouse gas emissions compared to building a new floating liquefaction vessel (FLNG).
Keppel made the claims a part of a new study conducted by environmental consultants Environmental Resources Management (ERM).
The study assessed the converted FLNG Hilli Episeyo and a new build FLNG of comparable design and specification.
It concluded that the converted FLNG saves a total of 63,343 tons of greenhouse gas emissions – equivalent to removing around 13,500 cars off the road for a year.
Keppel said the repurposing of LNG carriers into FLNGs contributes to the circular economy, adding decades to the life of the vessel and recapturing value that would have been lost through disposal, as well as reducing the consumption of materials that would have been needed for a new build.
For example, utilisation of virgin steel was reduced by 39% in the converted FLNG Hilli Episeyo, contributing significantly to the reduction in greenhouse gas emissions.