Crown on the lookout for new LNG opportunities but postpones sanctioning of FSRU project in UK

Crown LNG Holdings, a provider of liquefaction and regasification terminal technologies for harsh weather locations, has bumped to next year the final investment decision (FID) for its planned and fully owned floating liquefied natural gas (FLNG) import terminal in Scotland’s Firth of Forth.

After picking the UK-based IKM Engineering & Environmental Consultants, a civil and structural engineering and environmental consultancy, as its design and engineering partner for the Grangemouth LNG infrastructure project in the Firth of Forth, Crown LNG has confirmed its new FID timeline, which is now being targetted in the second quarter of 2025. Previously, the project sanctioning was anticipated in late 2024.

The LNG player intends to deploy a floating storage and regasification unit (FSRU) technology to develop the LNG project in Scotland, thanks to the existing power grid and gas grid access within ten miles of the proposed site location, which was secured through an exclusivity agreement with GBTron Lands, allowing it to use the proposed offshore site on the Forth River.

Furthermore, the Grangemouth project on the east coast of Scotland is expected to support the UK’s growing appetite for energy security post-Brexit, especially in the context of geopolitical impacts on energy markets. Currently, the UK depends on three facilities for all its LNG imports, which rose 74% from 2021 to 2022.

Swapan Kataria, Crown LNG’s CEO, outlined: “I am excited to share our plans to accomplish our mission to enable stable, secure, year-round LNG deliveries in growing markets where harsh weather conditions can otherwise make LNG delivery dangerous or unviable.

“Crown is in a truly unique position to more quickly and cost-effectively address one of the largest challenges of the global energy transition and broader energy complex, helping world economies ensure access to more secure, clean energy options and accelerating the replacement of coal in their energy mix.”

The anticipated rise in energy demand is expected to expand LNG use, creating strong market tailwinds of rising energy security concerns and the increasing use of natural gas as a transition fuel. This is projected to increase the need for weather-resistant, critical infrastructure, according to Crown LNG, which intends to capitalize on growing customer demand, emerging market conditions, and continued commercial progress toward its projects across its portfolio.

“The technology underlying our platform has operated for many years in harsh weather environments like the North Sea, offshore Eastern Canada, and other locations. The strength of our opportunity to address potential bottlenecks to global LNG supply is due to our differentiated facility plans that are less costly, easier to permit, and faster to installation and operations than other LNG infrastructure,” added Kataria.

Crown LNG’s CEO has confirmed multiple near-term projects progressing toward FID, including its already approved gravity-based structure (GBS) project in Kakinada, India. The company has reaffirmed its timeline and date in Q3 2025 for this project. The firm is actively looking into opportunities for strategic acquisitions and inorganic growth to unlock near-term revenue generation and expand its capabilities to entail elements of the LNG value chain beyond regasification and liquefaction.

In addition, ongoing discussions with production partners allow Crown LNG to explore the development of building export liquefaction facilities in what it deems to be key production markets, like the United States of America and Canada, complementing its existing access to pipeline networks in LNG consumption markets.

“With our world-class team and a technology approach that promises to swiftly address growing market demand, I am confident in our ability to meet our goals in the near-term, execute our long-term growth plan, and deliver shareholder value,” highlighted Kataria.