Flex LNG orders third ship

Flex LNG Ltd. in Norway has ordered a third 90,000 m3 SPB LNG vessel from Samsung Heavy Industries. It is of identical design to the two ordered back in March 2007 and is based on the construction of its innovative M-Flex design. Short for Medium-sized, flexible LNG carriers, the M-Flex vessels will incorporate the self-supporting, prismatic, IMO Type B (SPB) containment system developed by IHI of Japan. SHI is a licensee of the SPB system and has been working closely with IHI in recent years to refine and improve the original SPB technology. The newbuilding is scheduled to be on station, producing LNG in the fourth quarter of 2011.

Flex LNG was incorporated in 2006 with the objective of commercializing the world’s first floating liquefaction units (LNG Producers). The company says that by using the proven nitrogen expander liquefaction cycle, an LNG Producer can source gas from hundreds of potential offshore locations world wide where natural gas today is either left stranded or is being flared.

CEO of Flex LNG, Philip Fjeld says: ???In a world where bespoke design and ???mega-sizing??? LNG plants has driven the construction cost of traditional liquefaction plants to levels the LNG industry has not seen before, we are convinced our generic LNG Producer design will impress both our competitors and clients by offering the most efficient unit cost CAPEX for LNG production, even when compared to projects with an annual capacity of 5-10 times our size.??