Trelleborg’s marine systems operation and Australasian engineering consultancy, Synertec, struck a strategic partnership to meet the global demand for more accurate and efficient LNG custody transfer.
Under the new agreement, Trelleborg will distribute Synertec’s LNG custody transfer system across its global sales network.
LNG custody transfer, the transfer of the ownership of LNG from one organization to other, has long involved fiscal risk given significant uncertainties in traditional tank measurement, Trelleborg said in its statement.
Quantities are invoiced in units of transferred LNG based on a calculation of volume, density, and gross caloric value. However, measurement inaccuracies have a significant financial impact for both exporters and importers.
Just a one percent error in LNG transferred can result in a significant loss of revenue due to misallocation during custody transfer.
Synertec’s automated custody transfer system ensures the precise measurement of loaded LNG, removing the potential for substantial financial losses across the industry and the need for extensive laboratory testing.
Richard Hepworth, president of Trelleborg’s marine systems operation, said, “With more LNG capacity coming on stream year on year, we are seeing increasing demand not just for large-scale transportation of cargoes but also for more FSRU applications and, of course, the growth of LNG fuelling for marine vessels.”
He added that there are clear synergies between the two companies as well as the aim to optimize the interface which is critical to supporting the business model of every transfer operation.