Ryo Minami, Director of Oil and Gas, at Japan’s Ministry of Economy, Trade and Industry (METI) will be delivering a keynote address on the Japanese government’s policies for LNG demand and development and its impact on FLNG projects at the FLNG Asia Pacific Summit on 21-22 October in Seoul.
Following the recent deal between Inpex Corp and Tokyo Electric Power Company and Shizuoka Gas Company to purchase gas from the former via the world’s first FLNG project, Prelude, FLNG has been seen as a viable alternative to ease LNG demand in Japan.
In addition, stranded gas fields offshore can now be accessed and monetised through small and near-shore FLNG developments, a trend that is gaining ground in the industry, with Exmar/Pacific Rubiales Energy’s Pacific Rubiables project set to go into operation in the second quarter of 2015.
One of the biggest obstacles to moving forward with FLNG projects however, includes the lack of interaction and dialogue between offtakers, molecule providers, financiers, shipyards and EPCs over the spreading of risks and performance guarantees. In addition, with the lack of a code of standards and benchmarks for the execution of novel technology, the path remains fraught with many challenges.
To overcome these and facilitate in-depth interaction with oil operators, regulators and offtakers, key stakeholders including KBR, Exmar, Hoegh FLNG, MODEC, Bumi Armada, Black and Veatch, WorleyParsons, as well as former senior executives from Shell will be participating at the Summit, to engage in critical roundtable discussions to move the industry forward.
Key issues including small-mid scale FLNG economics, successful FLNG execution and moving from concept to FID will be covered and hosted by leading players including Paul Young, Chief Marketing Officer from Exmar, Rene Van Vliet, Chief Project Officer, Next Decade and Andrew Loose, FLNG Programme Manager, KBR.
The Summit will also be the first time that regional regulators such as Japan’s METI will be presenting and highlighting the importance of bringing all the stakeholders together to understand the future of FLNG projects and its impact on LNG demand regionally and globally.
Press Release, August 11, 2014; Image: Shell