GEOJE (South Korea): Petroliam Nasional Bhd (Petronas), which is the only company to own and operate two floating liquefied natural gas (LNG) vessels, said a third one is possible if there is a demand.
Petronas’ two floating LNG units are PFLNG Satu and PFLNG Dua.
“If there is a reservoir with a sizeable amount of reserves and the right gas – a composition that it is economically viable – it opens up a case for another floater,” said the company’s Gas and New Energy Business executive vice-president and chief executive officer, Adnan Zainal Abidin.
Nevertheless, it did not need to be for offshore usage alone, he told Bernama and TV3 in an interview here.
“The FLNG vessel can also be built near shore (to extract LNG from an onshore reservoir), especially in politically sensitive countries.
“In case there is a need to move out, you can have the plant moved away,” he said in jest.
Adnan said more companies have been seen coming on board with the idea of an FLNG vessel.
“Thus, we are hoping it will open up opportunities for us, not only in Malaysia but also overseas,” he said, adding Petronas was exploring it in a number of overseas countries such as Mexico, Brazil and West Africa.
“Whenever we find gas we have the option to monetise it. So, this gives us a new play to remain relevant in the LNG market,” he said.
Petronas’ FLNG chief executive officer Abang Yusuf Abang Puteh said a third floating unit would be more competitive than PFLNG Dua.
“We have over 40 years of experience in the LNG business and were involved in the FLNG designing, construction and operations. Through MISC, we also have expertise in LNG carriers.
“The floating facility is a combination of both, which is literally putting an LNG plant on a barge. We have extensive experience, so we know the tricks, and therefore a third FLNG will be more competitive than the first two,” he said.
Adnan added: “Petronas is in a better position to take that leap of faith to go to the next challenge, which is what we did with PFLNG Satu.
“If the situation warrants it, we will take it. Game on,” he said.