American Bureau of Shipping said it has granted approval in principle to Hyundai Heavy Industries floating liquefied natural gas hull design.
The vessel was designed for near-shore operations with a length of 320 meters, breadth of 60 meters and a 12 meter-draft, the classification society said in its statement on Tuesday.
Using the GTT Mark III technology, the vessels’ storage tanks can hold 200,000 cubic meters of LNG.
ABS and HHI teams collaborated in a joint development project with the objective to create a technically feasible FLNG hull design, the statement reads.
“In this depressed gas market, developing a price-competitive, near-shore FLNG hull with ABS could lead to providing the FLNG market with a novel approach to reduce the risks experienced in recent offshore EPC projects,” says Yun-Sik Lee, Executive Vice President, Shipbuilding Division at HHI .