Natural Gas
Natural gas is the world's fastest-growing primary energy source. Economic growth, the abundance of natural gas, its clean-burning nature and its wide applicability as a fuel source have been driving its growth.

Liquefied Natural Gas
Liquefied natural gas (LNG) provides a cost-effective means for transporting natural gas overseas by super-cooling it to a liquid form, reducing its volume by approximately 1/600th of its gaseous state. The LNG shipping industry continues to grow rapidly with global demand for LNG expected to increase by more than 50 percent by 2030.

Shipping Natural Gas
Shipping natural gas includes the following three key stages:

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  Liquefaction
  To transform natural gas into a liquid state, it is super-cooled to a temperature of approximately -260 degrees Fahrenheit (-163 degrees Celsius). This process takes place at a liquefaction facility.
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  The reduced volume facilitates economic storage and transportation by ship over long distances, enabling countries with limited natural gas reserves or limited access to long-distance transmission pipelines to meet their demand for natural gas.
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  Shipping
  The LNG is transported overseas in specially built tanks on double-hulled ships. LNG carriers transport LNG between liquefaction facilities and import terminals or floating storage regasification units (FSRU).
  
  The double-hulled vessels have a sophisticated "containment" system that holds and insulates the LNG so it maintains its liquid form. LNG that evaporates during the voyage and converts to natural gas (called boil-off) is used as fuel to help propel the carrier.
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  Regasification
  At regasification facilities, the LNG is returned to its gaseous state. Such facilities have been located on shore for many years but more recently there has been a growing demand for floating regasification units (FSRUs) on which the LNG can be regasified. 


• Floating regasification allows prospective importers to gain fast and relatively cost-efficient access to global LNG supply. Its advantages include:
  • Ability to fast track regasification access for new LNG importers
  • Lower upfront capital investment compared to onshore facilities
  • Can be relocated if demand is short term and/or seasonal
  • Allows customers in new markets to gain confidence in LNG
  • Good solution for when availability of land is limited
  • Large pool of potential FSRU conversion candidates in the fleet