LNG prepares to debut in its first floating power project

One business model could offer a second life to older vessels as their trading days come to an end

9 September 2019 13:14 GMT Updated 9 September 2019 13:14 GMT

in London

By the start of 2020, the world’s first LNG-to-floating power project looks set to go into operation.

Japanese owner MOL announced its joint venture with Turkey’s Karpowership in March and has been converting the 127,000-cbm Dwiputra (built 1994) into a floating storage and regasification unit to supply a powership in Mozambique. The FSRU is due to deliver next month and be in position by the end of the year.