LR recently signed a contract to class the first ever floating storage regasification unit (FSRU) to be ordered for Indian waters. Stationed at Jafrabad port and operational 24 hours a day, 365 days a year, it will be built to LR’s Rules for the Classification of Offshore Units by Hyundai Heavy Industries (HHI) for SWAN LNG Pvt. Ltd. (SLPL). It is due for delivery in December 2019.
The new 180,000m³ FSRU project will help meet the demand for LNG in the region, natural gas is projected to make up 20% of India’s total energy consumption by 2030. The Indian gas market is expected to be one of the fastest growing in the world over the next two decades, the country is the fourth largest energy consumer in the world (after the US, China and Russia).
FRSUs are an attractive alternative for meeting the growing demand for regasification because they are significantly cheaper to operate than onshore plants and also highly versatile.
SLPL’s Bhavik Merchant said: “Our FRSU based LNG Terminal at Jafrabad will help India's push to increase the proportion of gas in its energy mix to power its economic expansion. SLPL is pleased to be working with Lloyd’s Register on this prestigious project as they have a wealth of expertise in large gas projects and we have been impressed by their desire to constantly improve the overall quality during construction to ensure uninterrupted operation.”
LR’s Marine & Offshore Area Manager for South Asia, Middle East and Africa, Piet Mast, commented: “LR is delighted to be working with SLPL on this first of its kind project in India, this success is owed to the real global collaboration of all LR teams involved. LR is expanding its scope of work in this area with a number of other FSRU and gas related opportunities in India, Sri Lanka and Bangladesh."