Dreifa Energy secures first PSV for LNG conversion

Dreifa Energy secures first PSV for LNG conversion
Image courtesy of Dreifa Energy

Dreifa Energy signed a deal to acquire the platform supply vessel Blue Betria from Blue Star Line in order to convert the vessel into an LNG floating regasification unit (FRU).

Dreifa Energy was formed in 2016, by Flex LNG co-founders, Jostein Ueland and Trym Tveitnes that left Flex LNG in 2016 and teamed up with a third colleague Henrik Austgulen in the new company.

The company is looking to develop mid-scale floating regasification terminals for LNG imports. The concept consists of regasification equipment and related utilities on a suited floating structure operating in combination with a standard LNG carrier providing floating storage.

Image courtesy of Dreifa Energy

The large deck space on Blue Betria makes it a suitable vessel for an FRU conversion Dreifa Energy said in its statement. The vessel, built in 1983, was extensively upgraded in 2015 and is currently trading in the North Sea.

Dreifa Energy added it intends to provide the solution to prospective LNG importers targeting initial throughput of up to 1.5 mtpa.

The company aims to build, own and operate a fleet of FRUs, noting a strong interest for the solution as it is working “to mature several LNG import projects around the world together with various partners.”

Final investment decision for the first FRU conversion is expected by the end of 2017. Dreifa Energy has previously developed an outline conversion specification and commenced discussions with potential equipment suppliers and yards, and already started basic engineering.

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