Baker Hughes and Wison to jointly explore future FLNG and LNG opportunities
Baker Hughes and Wison to jointly explore future FLNG and LNG opportunities - Offshore Energy
Baker Hughes and Wison to jointly explore future FLNG and LNG opportunities
Energy tech major Baker Hughes and Wison (Nantong) Heavy Industry, an affiliate of Wison Offshore & Marine (WOM) have signed a memorandum of understanding (MoU) to collaborate on future offshore floating LNG (FLNG) and onshore LNG projects.
The parties signed the MoU on November 5, 2023, at the China International Import Conference (CIIC).
The agreement aims to lay the groundwork for the collaboration between Wison and Baker Hughes and future project opportunities in the field of offshore FLNG and onshore LNG applications.
Furthermore, the MoU seeks to develop a long-term relationship between the two parties, formalizing the development of a frame agreement to streamline business processes and standardize technical products to meet market opportunities and ensure optimum solutions during bids and project execution.
Damien Nguyen, CTO of WOM, believes that the signing of this MoU will intensify collaboration between the two companies, and enhance the effort to support the global clean energy industry, bringing innovation and breakthroughs to the global energy transition.
The latest deal builds on the previous collaboration between Baker Hughes and WOM. In early 2023, Baker Hughes secured two procurement contracts with WOM to provide support for one floating LNG and one onshore LNG project.
Related Knowledge Center: Liquefied natural gas
Driven by plentiful natural gas produced from shale plays, the United States began exporting liquefied natural gas in 2016 when the Sabine Pass terminal in Louisiana opened and shipped its first cargo. Since then, additional capacity, or trains, have been added to Sabine Pass, and terminals have become operational in Cameron Parish, La.; Hackberry, La.; Cove Point, Md.; and Corpus Christi, Texas. The Energy Information Administration projects that U.S. LNG export capacity will reach 8.9 billion cubic feet per day (Bcf/d) by the end of 2019, making it the third largest in the world, behind Australia and Qatar. The tariff war with China has the potential to impact some final investment decisions for additional terminals in the coming months.