For Immediate Release
Sep 11, 2017
For more information, contact:
ABS Media Relations
Myung-Jae Joo, Country Manager of Korea ABS (right), presents Jae-Eul Kim, Senior Vice President, Shipbuilding Division at HHI, the a certificate acknowledging Approval in Principle of Newbuilding Conversion FLNG hull design.
(Houston) ABS, the leading provider of classification and technical services to the global offshore industry, has granted Approval in Principle (AIP) to Hyundai Heavy Industries (HHI) floating liquefied natural gas (FLNG) hull design.
ABS and HHI collaborated with the objective of developing a technically feasible and class compliant FLNG hull design, using the latest industry trends while maintaining high safety standards. The ABS AIP demonstrates the design substantially complies with Class and Regulatory requirements and minimizes risk to project schedules and safe operations, giving regulatory agencies and other key stakeholders confidence in the design.
“ABS has a strong history of collaborating with the offshore industry to evaluate novel designs that enable industry efficiency,” says ABS Executive Vice President, Global Offshore Ken Richardson. “Our work with HHI is another example of ABS’s technical leadership promoting safety in innovative concepts.”
“The Newbuilding Conversion FLNG hull design can be constructed for about half the cost as compared to a standard FLNG hull,” says Jae-Eul Kim, HHI Senior Vice President, Shipbuilding Division. “In the current difficult energy market, Ready-to-Convert FLNG hull with ABS AIP gives the FLNG market an efficient approach, with competitive price and schedule, helping investors take financial investment decisions.”
ABS has been the preferred classification organization for the offshore and energy industry for more than 60 years. With increasing global concern for the environment, clean gas-based energy plays an integral role within that framework. ABS applies its experience and knowledge to support members and clients involved in gas-related projects, including LNG and LPG transportation, the use of LNG and other gases as fuel and emerging offshore LNG terminal technology projects.
In addition, a Newbuild Conversion FPSO Hull concept design is under development, following the same process.
Founded in 1862, ABS is a leading international classification organization devoted to promoting the security of life and property and preserving the natural environment through the development and verification of standards for the design, construction and operational maintenance of marine and offshore assets.