Accelerated LNG production essential for transitioning to a low-carbon future

Accelerated LNG production essential for transitioning to a low-carbon future

Across maritime nations, including those throughout the Asia Pacific, liquefied natural gas (LNG) demand is growing as an energy source for large-scale gas-fired power generation. LNG for baseload power can bridge the gaps between the retirement of coal-fired power assets, the speed of renewable energy penetration and the emergence of newer and alternative clean energy solutions.

The urgency to increase LNG production and improving the security of supply are vital as the world faces volatile impacts from climate change and the challenge of ensuring a reliable and sustainable energy supply.

In its new eBook, LNG: Fueling the Future, engineering firm Black & Veatch examines the role LNG will play in the future of the global energy landscape. It details how the industry must scale beyond its current production capacity to balance increasing levels of renewable energy alongside near- and long-term consideration of alternative clean energy solutions, including hydrogen, nuclear, energy storage and carbon capture.

“Global economies are in the process of transitioning from a carbon-based economy to an electron and molecule-based one. Finding the right energy mix for near-term requirements and long-term change will be critical,” said Mario Azar, Chairman/CEO, Black & Veatch.

“Liquefied natural gas is essential to moving the world towards a low-carbon future at a faster pace by stabilising grids and enhancing their resilience,” added Narsingh Chaudhary, President, Asia Pacific and India, Black & Veatch.

Scaling production, speed to market and maintaining competitive pricing are critical components for the industry to meet growing demands. Innovative approaches to technology and execution, such as floating LNG (FLNG) and modularisation, are driving the industry forward and unlocking stranded gas in locations unsuitable for traditional large-scale facilities.

As a pioneer in delivering FLNG solutions, Black & Veatch says it is or has been involved in five of the ten FLNG projects in operation or under construction globally. It includes the first MOSS vessel conversion to an FLNG facility, the Golar Hilli Episeyo FLNG vessel, which was completed in Singapore.

FLNG technology offers speed to market, capitally efficient and innovative solutions for monetising offshore gas reserves and the ability to develop nearshore facilities to export pipeline gas. The approach also increases construction efficiency and quality while risks are mitigated through modular design and construction in shipyards. Additionally, FLNG technology provides compact designs that enable smaller environmental footprints than onshore facilities.

Black & Veatch’s leadership in developing and constructing FLNG facilities is supported by its Prico technology, a liquefaction technology said to be ideal for producing LNG that can be used for peak shaving, medium and heavy-duty vehicles, industrial fueling, baseload power and offshore applications. Prico‘s simplified operation and flexible configuration make it scalable for use in small, mid and large-scale facilities and enable innovative project solutions for onshore, offshore and nearshore LNG facilities.

At Gastech 2023, to be held 5-8 September in Singapore, Azar will share global best practices on encouraging the development, deployment and scale-up of climate-impacting technologies that will guide the industry to a lower carbon and more sustainable future. Chaudhary will discuss the prospects of climate technology today and in the near future.