China: Wison, Black & Veatch to Jointly Pursue Offshore LNG Projects

Shanghai-based Wison Offshore & Marine Ltd., a subsidiary of the Wison Group, announced today the signing of a Memorandum of Understanding with Black & Veatch to jointly pursue barge-based natural gas liquefaction facility projects on an exclusive basis.

Under the agreement, Wison will hold responsibility for barge design and engineering, and overall project management, construction, delivery and financing of the integrated facility. Black & Veatch will provide the basic and detailed LNG plant designs, supply certain LNG equipment and components as well as provide commissioning services and process guarantees. The solution deploys Black & Veatch’s patented PRICO® liquefaction technology.

The agreement formalizes a relationship between the two parties developed through their collaboration on the delivery of the first floating LNG liquefaction, storage and regasification facility. Announced in June 2012, this unit is under construction at Wison’s fabrication facility in Nantong, China. The companies also signed an agreement earlier this year for plans to develop similar units for clients in other markets.

“We are finding that the relationship we established with Black & Veatch on the first floating LNG project has proven to be extremely synergistic,” said L. Dwayne Breaux, Executive Vice President for Wison Offshore & Marine, Ltd. “Formalizing this relationship paves the way for us to continue jointly developing these systems and capitalizing on the experience we have collectively gained from working on these ground-breaking projects.”

“The industry is awash with news about potential floating LNG facilities while we’re actively building the world’s first,” adds Robert Germinder, Vice President of Black & Veatch’s Oil & Gas business. “Demand for cleaner, alternative fuel sources is not slowing. With the right technology and approach, production of LNG at sea can become a commercial reality.”