GasLog announced that Keppel Shipyard Limited has begun ordering long lead items required for the conversion of a GasLog or GasLog Partners LP LNG carrier to a floating storage and re-gasification unit.
The LLI’s include pumps, vaporizers, heat exchangers and low duty compressors, which are vital equipment for the conversion process. The LLI’s take approximately 12 months to deliver at a total cost of around $16 million.
Ordering the LLI’s reduces the time necessary to convert an LNG carrier from between 18-20 months to 6-8 months once the LLI’s are delivered.
Keppel is the world’s leading shipyard for FSRU conversions, having carried out 3 successful conversion projects in the past.
Securing the LLI’s at this time, puts GasLog in a position to offer a fast track solution for FSRU projects in the future. GasLog is working on a number of potential projects where the LLI’s could be used in a vessel conversion and has a number of well suited candidates for conversion in its fleet of LNG carriers.
Paul Wogan, Chief Executive Officer of GasLog Ltd., stated: “GasLog’s success in developing both its FSRU capability and its industry relationships has allowed the early ordering of the LLI’s. This is a reflection of the progress we are making with a number of different projects around the world.”