Lloyd’s Register (LR), China Petroleum Pipeline Engineering (CPP), COSCO Shipping and CyGas are currently working together on a project to convert the LNG carrier SS Galea to a Floating Storage and Regasification Unit (FSRU), to be named Etyfa Prometheas. The vessel is currently undergoing the final stages of conversion at the COSCO Shanghai yard before sailing.
The FSRU is owned by CPP and will be operated by CyGas, which is responsible for the import, storage, distribution, transmission, supply, trade and management of natural gas in Cyprus, at the port of Vassilikos. The terminal infrastructure at Vassilikos is in its final stages of construction and is set to be connected to the FSRU within the next three to six months.
FSRUs and floating terminals are playing an increasing role in energy security and infrastructure, with assets being either constructed via new designs or converted from existing LNGCs. The units provide a viable alternative to meet the growing demand for liquefied gas storage and regasification and are significantly more affordable to operate than onshore plants.
As part of the conversion process, LR acted as a trusted adviser, project managing the conversion to ensure the FSRU meets all safety, quality and efficiency requirements. Moving forward LR will provide effective support throughout the vessel’s operational life.
Sau Weng, Lloyd’s Register Greater China President said: “This is a significant conversion project and is the first of its kind to be performed by LR for COSCO Heavy Industry, in cooperation with the CPP and CyGas. Conversions of LNG carriers to FSRUs are complex projects and the safe management of the project’s overall efficiency marks a milestone for all stakeholders involved, along with the increased gas supply chain infrastructure for the eastern Mediterranean.”
Mr. Lu Shu, Executive Director of CPP said: “We are very proud to be able to cooperate with LR on this Cyprus FSRU conversion project. As an important project on the Belt and Road, LR's professionalism and close cooperation ensure the smooth implementation of the entire project!”